TT RAM MOHAN's comments on the Indian economy, banking and current affairs
Friday, February 01, 2013
Corruption- India isn't unique
Spain's PM Mariano Rajoy has been implicated in a growing corruption scandal in Spain, which is already under pressure in the Eurozone crisis, FT reports:
prime minister has become embroiled in a growing scandal over secret
cash payments to ruling party politicians after a newspaper published that it claimed to be accounts showing payments reaching as high as Mariano Rajoy himself.....
level of trust in politicians in Spain is very, very low, and
corruption is one of the main problems,” said Antonio Argandoña,
professor of Business Ethics and Economics at IESE business school.
“Politicians must tackle this problem before any more damage is done.”
A recent poll for El País suggested that 96 per cent of Spaniards believed that political corruption was “very high”.
I know this is poor consolation but it helps to know that political corruption isn't unique to India. It is alive and kicking in rich economies as well.