The European Union's 27 leaders will discuss stepping up the fight against tax evasion at their next summit in May. According to AP, European Council President Herman van Rompuy said Friday that tax evasion causes the bloc about 1 trillion euros ($1.3 trillion) in lost revenues, creating "a serious problem for countries that need resources to restore sound public finances." Van Rompuy, who chairs the leaders' summits, says the initiative aims at "seizing the increased political momentum to address the issue."
