Ethics and governance in the European Financial centers

I had a very interesting contact witha member of the COPRECO in Luxembourg. It is the Corruption Prevention Committee, which is expected to do much in raising bribery awareness among the players concerned and to improve interagency coordination, and the introduction of anti-bribery mechanisms in agencies responsible for export credit insurance and development cooperation, as the OECD's Working Group on Bribery explained in its last report.

I made a suggestion: next year there will be the general elections in Luxembourg. The Committee could ask a couple of questions to the candidates for the elector be aware of the attitude towards corruption issues. Transparency International in France did that for the presidential election and the municipal election and published the answers or the non answer.

This could be the beginning of the paradigm shift to introduce transparency and make politicians aware of their responsibilities. Similar questionnaire could be sent later to professionals.

But the main problem that the Committee will face is the “system”: will the Committee be supported enough to clean the Augean Stables in Luxembourg by implementing specific actions to fight corruption situations where money is not involved, but networks, intimidations and fame that may be traced in public an official sources : professional standing turned out to be charade.

Although I am not Herakles, I am ready to help the Committee.