'Breathtaking' EU corruption costs 120 bn euros a year | Bangkok Post: news

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'Breathtaking' EU corruption costs 120 bn euros a year

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Corruption across the European Union's 28 countries costs about 120 billion euros ($162 billion) per year -- a "breathtaking" sum equal to the EU's entire annual budget, EU Home Affairs Commissioner Cecilia Malmstroem said Monday. 

One in 12 EU citizens have experienced corruption in the past year, research shows

Malmstroem said the actual figure could be even higher, despite the estimate amounting to a little less than one percent of the bloc's total economic output.

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