The extent of corruption in Europe is “breathtaking” and it costs the EU economy at least 120bn euros £99bn annually, the European Commission says.

EU Home Affairs Commissioner Cecilia Malmstroem has presented a full report on the problem. She said the true cost of corruption was “probably much higher” than 120bn. Three-quarters of Europeans surveyed for the Commission study said that corruption was widespread, and more than half said the level had increased. “The extent of the problem in Europe is breathtaking, although Sweden is among the countries with the least problems,” Ms Malmstroem wrote in Swedens Goeteborgs-Posten daily.

via BBC News – Corruption across EU breathtaking – EU Commission.