What's the real GDP....

...and how can it be improved without any pain or suffering?

The Greeks think they know.

Facing an angry reaction from the EU over violating rules for the Eurozone that the budget deficit cannot exceed 3% of GDP the Greeks got clever.

Did they cut spending? No.

Did they raise taxes? No.

I pricture a cabinet meeting going something like this:

"Why isn't the black market included in GDP?" said minister one.

"I do not know. It's domestic, it's product and it's often gross" said minister two.

Et voila. Greek GDP is up over 25% from last year now that the underground economy is included.

How much would US or British GDP jump if we included:

• Prostitution
• Drug trafficking and retailing
• Illegal weapons trade
• Money laundering
• Illegal gambling (US only)

I mean it's not as if we don't do it for Afghanistan!