“Corruption, at the Fore-Front!”


Portugal and Spain 2018–2022 World Cup Bid logo

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Could it be a World Cup Fix?

Now the Show case for World Football the 2018 World Cup is targeted!   And our FIFA executives are professed to be corrupt!  Executives from the international governing body of football are accused of “improper and unethical” behaviour. Britain’s former Football Association chairman, Lord Triesman, says four FIFA executives sought bribes or other favours in return for backing England’s failed 2018 World Cup bid.

The man behind Qatar‘s successful bid for 2022, Mike Lee, was also called to this inquiry where he had to answer an allegation from reporters at Britain’s Sunday Times newspaper that the Gulf state had paid officials from several African countries for their support. Qatar’s football association later released a statement, saying the allegations “will remain unproven, because they are false.”

FIFA has written to the FA to ask for “a complete report from Lord Triesman”, including “any and all documentary evidence at his disposal”. A statement said: “In his letter to the FA, the FIFA secretary general expresses the extreme concern of FIFA and the FIFA president at the latest allegations questioning the integrity of some FIFA executive committee members.

INDIA a CASE in POINT!

Indian firms, if they want to raise money abroad, or if their bosses want to protect their own professional reputations, are doing the same. As other countries, such as Britain, bring in tough anti-graft laws like America’s, the trend will continue. Yet many Indian firms still fail to comply with higher standards, so deals falter, “in infrastructure, ports, toll roads, irrigation, microfinance”, of the deals worked on those collapsed over “governance problems”.

None of this is enough to prove that graft, alone, is scaring off business. Pranab Mukherjee, the finance minister, insists there is no correlation between corruption and foreign direct
investment (FDI). Jeffrey Immelt, the boss of GE, in Delhi last week, cheerily agreed, insisting that a fast-growing market trumps all other concerns.

But something is keeping investors wary. In 2010 the country drew just $24 billion in FDI, down by nearly a third on the year before, and barely a quarter of China’s tally. There is no shortage of other discouragements: high inflation, bureaucracy, disputes over land ownership, and limits on foreign ownership in some industries.

Even so, India is home to an unusually pernicious form of corruption, argues Jahangir Aziz of JP Morgan. Elsewhere, graft may be a fairly efficient way to do business: investors who
pay bribes in China may at least be confident of what they will get in return. In India, however, too many crooked officials demand cash but fail to deliver their side of the bargain. Uncertainty, not just the cost of the “graft tax”, may be the biggest deterrent of all.

Every aspect of our lives is a target for Corruption, Graft or illicit trade, will it ever be controlled or stopped! Hotdogfish

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