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Corruption Costs European Economy 120 Billion Euros a Year

Corruption costs Europe 120 billion euros a year, or around one percent of economic output, according to the first ever report on graft in the 28-nation European Union by the executive European Commission. The report published on Monday places the EU, often portrayed as one of the globe's cleanest regions, in an unflattering light.Among businesses, belief is widespread that the only way to succeed is through political connections and almost half of the companies doing business in...

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