The Fight Against Global Corruption

September 28, 2011
General View of G20 Meeting in Paris February 2011

Anticorruption experts from G-20 member countries met in Paris last week to assess progress on the fight against global corruption. As a baseline for this assessment, attendees used the wide ranging set of commitments adopted by President Barack Obama and G-20 leaders at the G-20 Summit in November 2010. Those commitments included concrete actions -- such as ratifying and implementing the UN Convention Against Corruption (UNCAC), establishing legislation to counter foreign bribery, and introducing protections for whistleblowers who report corruption -- while creating and strengthening anticorruption bodies.

The information presented at the Paris meeting demonstrates that this G-20 initiative has provided a basis for countries to take a number of tangible steps in the past year to address global corruption. For example, China and Russia have adopted their first foreign bribery legislation. India has ratified UNCAC. South Korea is currently enacting new whistleblower legislation. Saudi Arabia is creating a new anticorruption agency.

The G-20 senior leaders will continue to address this issue at the Cannes Summit in November.

Comments

Comments

wrong79
September 28, 2011

W.W. writes:

If you really were fighting it all real mobster would have been arrested by now not the all street protester.

New york police shield up against US new york police shield down like in greece american governament with US

It is really time to stop what it intently creates poverty to enslave human mass.

Today we already own technology to change is just that who is in charge has not cut the cake yet.

so still awaiting for yr. decision to stop what everybody knows and respect G8 canada agreement 2010

Maureen
|
Massachusetts, USA
September 29, 2011

Maureen in Massachusetts writes:

@ John Brandilino Senior Advisor/INL:

The link to G20 G8 France 2011(highlighted at end of post)is a great resource for those wishing to learn more about the mission of the Cannes Summit. Thank you-my impressions below:

President Sarkozy spoke of "interdependence in a volatile world" that "Europe can't just be involved politically". We sense real outreach and commitment as Secretary General- (France) Laurent Stefanini speaks also
to the financial commitment being made for the summit along with commentaries by visiting Ministers.

The fight against global corruption is about the "new world, new ideas"- (President Sarkozy). I believe that this is the attitude most welcome and appreciated by Dipnote participants. The spirit of true cooperation and just solutions by the participating members and host France should lead to "Stuff getting done"- (President Obama)in Cannes.

Rinaldo P.
|
Italy
September 30, 2011

Rinaldo P. in Italy writes:

The timing for implementing global anti-corruption policies is ripe, especially considering that the European Parliament has just approved such policies as well. However, my greatest concern it the lack of understanding, or unwillingness to address what only expert economists refer to as the greatest tax evasion of all times. I am referring to banking revenues known as seigniorage and currently not taxed. This means that financial corruption should be a priority high in the list to the point that just a few days ago, President of the European Commission Barroso during the 2011 State of the Union address claimed that Eurobonds and financial taxes could be the solution to the current crisis.

Barroso may be not totally wrong in his claim. Eurobonds are not the problem, but the use that the resulting seigniorage will be destined to, and how it will be used. For example, if banks are willing to grant credit by buying Eurobonds, then the States can contract a debt with such banks, and obviously that debt immediately will make banks earn their seigniorage revenues, without awaiting for any interest or repayments. As a consequence, States can immediately tax these seigniorage revenues for the banks in order to equalize the balance their sheets in respect of their national debt. However, I am not sure this is exactly Barroso’s plan. It is obvious that taxation of seigniorage alone will not be sufficient to reduce and extinguish the national debt, especially in Europe where further privatizations will be inevitable in order to achieve such a goal. Never before a modern European financial taxation system fully inclusive of a seigniorage tax could potentially be greatest euronews since the treaty of Lisbon.

If the mathematical solution to Europe’s crisis is taxation of ECB’s seigniorage revenues, then the solution to America’s crisis is taxation of the FED’s seigniorage revenues. The eurozone, as well as the dollar, must only be saved from its debt-money system model that constrains the union to perpetual and mathematical trap where two opposite factors to indicate debt vs. credit cancel each other, just like |-X|=|+Y|, and whose result is 0. So, if you issue a credit in the amount equal to the debt, and give it to people who might turn it to the State to repay its public debt, then the accounting problem would be solved in 2 minutes without creating inflation. By the way, it should also be intuitive that exchange rates will cushion such maneuver across currencies.

Alternatively, the national debt can be easily paid off by “swapping” or paying the lenders whom Italy is a debtor, directly with shares of privatized companies. This way, one would transfer wealth directly from the State to the people ending the debt crisis. In addition, growth should be considered also as velocity of circulation of money, which at the moment is rare among the consumers despite its supply, and therefore growth is not only limited to its amount. Without addressing these issues first there will never be an anti-corruption policy able to make a difference in this world.

Peter
|
Canada
September 30, 2011

Peter in Canada writes:

@ Maureen in Massachusetts

Life on the ground and what is read in these types of posts are very different indeed.

Mr. Sarkozy instituted policies against the Roma peoples not seen since the Nazi party.He practices policies of division to secure power.A political tactic used by people not worthy of leading a company never mind a nation.

I traveled through a part of France and could not find a single person that supports him or his direction. Given the recent elections over there, it would seem the people of France think little of him or what he has to say.

Governments today around the world are completely out of touch with the people.When US officials meet with their foreign counterparts - whatever is said is meaningless, if the people on the ground do not support it.

What is said and what is done are often completely different, especially amongst politicians.

How many G20 or other type meetings happen but the world economies crumble and more and more people become disenfranchised and disillusioned. Our problems just grow. How nice it must be to do a job paid with tax dollars and provide little value in return and with that failure comes a larger tax bill.

They could meet a 100 times and nothing would change - if it could it would have. These shindigs are a waste of tax payers money. The ineptitude that seems to prevail afterword is worthless beyond imagination.

Corruption is a vial beast that every country has in one way or another supported, fostered and few have what it takes to do anything about. Of course publicly anyone will decry it, but lets be real - some of these folks meeting surly are aware of corruption (directly or indirectly in some form - friends, colleagues, business) and have said nothing and done nothing about it. To say otherwise is a fairy tale.

Corruption amongst friends is not viewed as corruption. Until someone rats them out or whistle blows.

Will the EU go after corruption by US assets? I think not. Will America tackle EU corruption if that corruption benefits US interests? I think not. In a perfect world perhaps - but we don't live in a perfect world and corruption in too many parts of the world is how business is done.

Maureen
|
Massachusetts, USA
September 30, 2011

Maureen in Massachusetts writes:

@ Peter in Canada:

I knew that was coming and am well aware of the opinions in France and "life on the ground" ...and prefer to refrain from comment on that aspect because my point was to concentrate on the upcoming global summit and the positive efforts being made on the fight against corruption.

This is a changing world and the efforts that are being brought forward should be noticed, however small in your opinion.

The host country France is making efforts to strengthen support of anticorruption bodies with partners such as the US- posted by the author, John Brandolino. The vial beast as you put it could well be snuffed out... o.k., reduced then with commitments and legislation currently being worked on by participants. At least it is a positive step in the right direction. On taxpayer money, I'm not going there.

methods
October 2, 2011

W.W. writes:

this is the real cancer of society

as per beginning is the Barabbas society .

at the end who wants a leader journeying on a donkie an homeless guy preaching around that he will destroy the market place and rebuild it in 3 days

market place uhm? well it s falling

do you want to keep barabbas for the next 2000 year? or do u want to try the homeless guy this time?

@barakObama

the most powefull people of america if repubblicans win next election will make america they want?

who are those guys please gave US their name we are gonna get em ... and where thier power comes from ? money? cash ? Power tell US what power is cos the only one we know is the one of yoda

May the force be with you

.

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