Eurobarometer: Annual cost of corruption to EU 120 bln euros

Corruption is a serious challenge for all societies and the EU is no exception and the cost of corruption to the EU and its member states has been estimated at EUR 120 billion per year, according to a survey which Eurobarometer issued on Wednesday on the occasion of the 13th International Anti-Corruption Day. 

"Corruption is a serious challenge for all societies and the EU is no exception. Although the type of corruption varies, the cumulative effect of the corruption on the EU as a whole is considerable. The cost of corruption to the EU and its member states has been estimated at EUR 120 billion per year -- only slightly less than the EU annual budget," read the report, published by the European Commission.

Nepotism and patronage are the biggest problems in doing business for as many as 70% of companies in Romania, Greece and Bulgaria. In Croatia this represents a problem for about 50% of companies.. Unlike these countries, only four percent of companies in Denmark are faced with nepotism, and five percent of companies in Great Britain.

The next Eurobarometer report will be issued in 2016.

Last update: Wed, 09/12/2015 - 20:43
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