With the Greeks facing up to their third (or 4th or 5th, who’s counting anymoe anyway) bailout, proclaiming growth is just around the corner, that the crisis is behind them, and that slavery will solve European youth unemployment; we thought it both ironic and sad that, as Bloomberg’s Niraj Shah notes, the European Commission today publishes its first anti-corruption report and finds Greece has the most corrupt public sector, according to Transparency International’s Corruption Perceptions Index.
In chart form…
and table…
As a gentle reminder, Greece’s shadow economy was equivalent to 24 percent of GDP in 2012, the Institute of Economic Affairs estimates.
But Afghanistan and Somalia top the world’s corruption index…
(click image for large legible version)
The Corruption Perceptions Index 2013 serves as a reminder that the abuse of power, secret dealings and bribery continue to ravage societies around the world. The Index scores 177 countries and territories on a scale from 0 (highly corrupt) to 100 (very clean). No country has a perfect score, and two-thirds of countries score below 50. This indicates a serious, worldwide corruption problem.
via Zero Hedge http://ift.tt/1kEtL2G Tyler Durden