Greece Tops Corruption Survey

Greece is perceived to have the most corrupt public sector of all 27 EU countries, a new global survey reveals.

Worldwide, Denmark, Finland and New Zealand were seen as the least corrupt nations, while Afghanistan, North Korea and Somalia were perceived to be the most corrupt.

Transparency International's 2012 Corruption Perceptions Index gathered views on 176 countries worldwide.

Two-thirds scored below 50, with zero highly corrupt and 100 very clean.

The UK ranked 17th in the world, with a score of 74.

Greece's global ranking fell from 80th in 2011 to 94th in 2012, reflecting the country's continuing economic turmoil and widespread tax evasion.

Italy was ranked 72nd, below EU-newcomer Romania at 66 in the index.

"Governments need to integrate anti-corruption actions into all public decision-making", said Huguette Labelle, chair of Transparency International (TI), a body set up in 1993 to expose and tackle countrywide corruption.

"Priorities include better rules on lobbying and political financing, making public spending and contracting more transparent and making public bodies more accountable to people."

TI believes there are strong correlations between poverty, conflict and perceived levels of corruption.

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Get OANDA's exclusive weekly Market Pulse FX

HTML
  • HTML
  • Text
Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza