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Stolen Money and Bribes Returned to the Government

euro_coins_495_355The Greek government has opened an account for  “corrupt” individuals to deposit money stolen from the state. Officials estimate that the account which was opened yesterday by the Deputy Minister of Finance, Christos Staikouras, could return to the government up to 1 billion euros of stolen money.
The Deputy Minister of Finance officially announced the move “We have opened a sub-account of the Greek government’s account at the Bank of Greece. The money that was stolen will be deposited and then invested in infrastructure in the areas of welfare, health and education.”
The hope is that this will put pressure on those people who were caught red-handed, for example in the aftermath of the Lagarde List scandal, to return money. However, they will still be held accountable for their actions and may have to pay fines and face criminal charges.
The American Brookings Institution based in Washington, D.C., estimated in a study conducted for the years 2005-2009 that the Greek government lost 20 billion euros per year due to corruption. If the public sector in Greece was as honest and transparent as that in Sweden, the country could have shown a surplus during the last decade.
 

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