Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-04-06-Speech-4-041"
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"en.20060406.5.4-041"2
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"Mr President, the World Bank estimates that USD 1 billion is spent each year on bribes throughout the world. The African Union estimates that corruption costs the African economy over 25% of its GDP on an annual basis.
When debating corruption in developing countries, however, we should not forget about the shameful practice, used until recently by countries such as the United States, Denmark or Germany, of allowing companies to use bribes and then permitting these sums to be listed as tax deductible expenses. This practice was also used in Central and Eastern European countries, including Poland.
Corruption is a serious threat to development. In order to understand the problem and to find an effective solution, it is imperative to take decisive action, such as creating a black list which would prevent banks providing funding, in the form of loans, to corrupt governments or their representatives."@en1
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