The Brookings Institute has released a new piece of research that basically blames Greece's entire financial crisis on corruption.
They examined 40 different countries for correlations between levels of corruption and budget deficit and found the following:
"If Greece had better control of corruption—not to Swedish standards, but even at Spain's level—it would have had a smaller budget deficit by 4% of gross domestic product," on average over the past five years, says Daniel Kaufmann, senior fellow at Brookings and the study's author.
The Wall Street Journal pulls this rather startling quote:
The core of the problem is that we don't have a culture of civic society," says Stavros Katsios, a professor at Greece's Ionian University who specializes in economic crime. "In Greece, complying with the rules is a matter of dishonor. They call you stupid if you follow the rules."
...
Last year, 13.5% of Greek households paid a bribe, €1,355 on average, according to a Transparency survey published last month. Ordinary citizens hand out cash-filled envelopes to get driver's licenses, doctor's appointments and building permits, or to reduce their tax bills, according to the organization's Greek chapter.
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