Euro fails to make ground after Greece named ‘most corrupt’

<p>The euro has failed to gain ground after Greece was named the most corrupt nation in the EU.</p>

The euro has failed to make much progress since Greece was named the most corrupt nation in the European Union (EU) yesterday (December 5th) in a global survey.

Transparency International's 2012 Corruption Perceptions Index gathered views on 176 nations and revealed on a global scale that Denmark, Finland and New Zealand demonstrated the best practices in their public sectors.

Conversely, Afghanistan, North Korea and Somalia were perceived to be the most corrupt, while Greece came bottom of the 27 EU member states, falling from 80th in 2011 to 94th this year, reflecting its continuing economic problems and endemic tax evasion.

Italy was ranked 72nd, while new EU member Romania was 66th.

Hughette Labelle, chair of Transparency International, commented: "Governments need to integrate anti-corruption actions into all public decision-making."

At 09:41 GMT, the euro was firm in trading versus both the dollar and pound, holding at €1 buying $1.307 and £0.811.

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