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Tuesday’s Top News Stories
May 11th, 2010
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Behind the Greek financial crisis: US$160 billion lost to illegal capital flight in the last decade, according to analysis from Global Financial Integrity
May 11th, 2010
Global Financial Integrity lead economist, Dev Kar, has prepared an analysis on the Greek financial crisis for the blog of the Task Force on Financial Integrity & Economic Development in which he looks at the role illicit financial flows— Greece lost an estimated US$160 billion in unrecorded transfers through its balance of payments in the last decade—played leading up to the current financial crisis. In the piece Mr. Kar writes:

Even as Greece’s debt burden grew ever more onerous, its burgeoning underground economy fueled massive illicit financial flows, or illegal capital flight, out of...

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Monday’s News Round-up
May 10th, 2010
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Weak institutions in Egypt, Lebanon, Morocco and Palestine compromise efforts to combat corruption
May 10th, 2010
Transparency International: CAIRO/BERLIN—Under-developed public accountability systems are hindering efforts to combat corruption in Egypt, Lebanon, Morocco and Palestine, according to a new report by Transparency International (TI) anti-corruption organisation. The report points to major gaps in legal anti-corruption provisions and a worrying lack of resolve to introduce effective practices to curb the problem, which pose a risk for sustainable development, social cohesion and economic growth. “In all countries studied the governance systems can be described as ineffectual,” said Christiaan Poortman, Director of Global Programmes at TI. “A key obstacle is unchecked executive...
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