Greek corruption and the crisis

With Bloomberg telling us that Greece is now under pressure to sell of some of its islands in order to repay its debt, Transparency International has come out with a warning and in effect suggesting that won't be enough.

Der Spiegel reports that Transparency International found that corruption caused the crisis and that private households paid more than 780 million euros in bribes in 2009. The Greeks paid an average of €1,355 ($1,830) in bribes last year for public services such as speeding up the issue of driver's licenses and construction permits, getting admitted to public hospitals or fiddling with tax returns.

Not quite sure about the connection between debt and corruption but it does make a point about a political regime that's fast and loose with money. Not a good sign for fixing the problem.


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