Time for EU to shed light on Big Corporates

Filed under - Private sector

Opinion by Jana Mittermaier, director of Transparency International's EU liaison office in Brussels, Belgium – 12 July 2012

In the dark days of the financial crisis, as credit markets froze around the world amidst uncertainty and confusion, one thing at least was clear. The global financial sector had become interconnected as never before.

In the 19th century, it was said that: "When France sneezes, the rest of Europe catches a cold." In the early 21st century, when Citibank, Goldman Sachs or JPMorgan Chase, cough and splutter, the whole world reaches for the aspirin bottle.

The impact of the failure of these firms beyond their home jurisdictions is apparent for anyone to see.

When it comes to assessing the positive contributions of these global giants to the welfare of citizens around the world, the answer is altogether less clear.

Read the full article

Country / Territory - International   
Region - Global   
Language(s) - English   
Topic - Access to information   |   Accountability   |   Asset recovery   |   Civil society   |   Governance   |   Intergovernmental bodies   |   Media   |   Oil and gas   |   Politics and government   |   Private sector   |   Public procurement   |   Public services   |   Surveys   |   Transparency International   
Tags - Financial crisis   |   Economy   |   Goldman Sachs   

Related news

2
May
2018

The UK just made it harder for the corrupt to hide their wealth offshore

If counted together, the United Kingdom and its Overseas Territories and Crown dependencies would rank worst in the world for financial secrecy. ...

24
Apr
2018

Azerbaijani links to suspect Malta bank highlight need for financial transparency

A new investigation suggesting that the Pilatus bank of Malta was used to launder millions of dollars for the ruling family of Azerbaijan and their ...

18
Apr
2018

Media Advisory: Report on G20 progress on Beneficial Ownership Transparency published 19 April

Transparency International will release a new report on Thursday 19 April analysing the progress G20 governments have made to end the corporate ...

Related publications

Publication cover image

Whistleblower Protection in the EU: Analysis of and Recommendations on the Proposed EU Directive

Whistleblowers play an essential role in exposing corruption and other wrongdoing that threaten the public interest. By disclosing information about ...

Policy position published – Jul 2018

Publication cover image

Collective Action on Business Integrity: A Practitioner’s Guide for Civil Society Organisations

Collective action on business integrity involves different stakeholder groups including civil society, government and business coming together to ...

Report published – Apr 2018