AS per media reports, the Draft Report of the European Commission, which is likely to be finalised and released soon, has noted that Italy has not done enough to curb tax evasion and make significant dent into the large black economy.

The Report observes that the one-year-old Mario Monti Govt has identified 'shadow economy' and 'tax evasion' as two major areas of unfinished tasks. Such a report is likely to be more embarrasing in the light of the fact that Italy was recently reported to have launched a drive against tax cheats.