site.btaBulgaria's European Commissioner Zaharieva: Corruption Costs EU 6% of GDP Every Year

Corruption is expensive and costs the EU around 6% of GDP every year, Bulgaria's European Commissioner Ekaterina Zaharieva said here Monday on behalf of the European Commission. She was speaking at a debate in the European Parliament on some of the latest corruption cases, including suspected lobbying by China's Huawei and the conviction of French far-right leader Marine Le Pen.

Corruption is a threat to the rule of law, democracy and fundamental rights; it is a hidden crime without an obvious victim, Zaharieva said further. The damage is felt in the tarnishing of the image of institutions, the price is paid by taxpayers, the Commissioner added. There is an urgent need to introduce transparency about foreign funding in European public life, citizens' trust in European and national institutions is linked to trust in democracy, she argued.