Corruption costs the European Union as much as ?990 billion—or more than $1.1 trillion—every year, researchers from RAND Europe concluded in the most complete accounting to date of the toll taken by dirty deals, secret kickbacks, and sticky fingers. That estimate is more than eight times higher than found in previous attempts to price out the cost of European corruption. Even the most generous reading of the data in RAND's analysis pegs corruption as a ?179 billion-a-year industry in Europe, far bigger than previously thought.
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