When the publication of his Treatise of Human Nature met with almost universal indifference, Scottish philosopher David Hume remarked glumly that it “fell still-born from the press”. Anthony Salz – Rothschild banker and City of London grandee – will understand those sentiments after the rather muted reaction to his own tome on human nature, a […]
About Carl DolanCarl Dolan is Senior EU Policy Officer for EU Private Sector Policies at TI EU.
Reposted from the blog of Transparency International’s EU liaison office in Brussels. Corruption thrives in the dark, dank corners where no-one is looking, and banking is no exception. Who had heard of the LIBOR benchmark until the rate-rigging scandal erupted early last year? Now it is a byword for bad behaviour in banks. This week, […]
Integrity, trust and culture can seem like the most intangible and abstract of concepts in a hard-edged business environment – until they disappear. As the finance industry has discovered in recent years, failing to tend to a culture of integrity can cost you dearly. There are the record fines of course – such as those […]
Our recent report on corporate transparency has exposed lamentably low levels of country-by-country reporting across the business spectrum. This means 69 of the world’s biggest companies operate in India, for example, but only two disclose how much money they made there, and not one discloses Indian tax payments on their main corporate website (see the […]
We at TI-EU have been questioning the levels of transparency and accountability at the ECB, as you can see in our op-ed in the EU Observer and our blog post on President Barroso’s address . We are glad to see that those wise old heads at the Financial Times (motto: “without fear or favour”) came to the same conclusion. They, like […]
…and how much money do they spend when they get there? Despite their global reach, Transparency International’s recent Transparency in Corporate Reporting report – which assesses 105 multinational companies’ anti-corruption reporting – shows that these companies reveal very little information about their financial and non-financial contribution to the countries in which they operate. The European […]
Samuel Beckett’s exhortation to “fail better” could also be applied to the EU banking sector. Time and time again, troubled financial institutions have been bailed out by the taxpayer because they have been perceived as “too important to fail”. The ability of a large number of banks to benefit from excessive risk-taking without fully absorbing […]
You have never heard of them, but they assess the safety of the food you eat, the water you bathe in and the drugs your doctor prescribes. Welcome to the world of European Union agencies – independent, arms-length bodies established by the EU to provide specialist advice and expertise to policy makers on a wide […]
As the prices of oil and other non-renewable commodities begin to soar once again, anti-corruption activists from DR Congo, Ghana, Liberia and Zimbabwe were in Brussels last week with the message that there is a once-in-a-generation opportunity to get their economies on a sustainable development path, a path that has been blocked by corruption in […]
A newly discovered diamond field in Cameroon might contain as many as 250 million carats – 2.5 times the total world output of diamonds in 2007. The nearby village of Mparo, meanwhile, lacks running water, asphalt roads or telephones. Its mud-brick schools lack benches or books, No electricity flows through its power lines. An electrification […]
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