German corruption in Greece

Newsletter 2015/08/03 – Corruption in Greece (I)

ATHENS/BERLIN (Own report) – The Greek government does not exclude the
eventuality of indictments of German companies on charges of
corruption, according to recent reports, on a contingency plan Athens
has prepared for the event that Berlin forces it into state bankruptcy
(“Grexit”). According to this plan, Athens would try to bring German
companies to court – who have not or have only partially been subject
of bribery investigations – to have them pay at least part of the
restitution for damages caused by the alleged corruption, officially
estimated in the billions. Siemens is the most famous example. A Greek
parliamentary investigating committee estimated that, through
systematic bribery, this Munich-based company has caused damages of
two billion Euros in Greece. However, Siemens got off cheap in an
out-of-court settlement and had to pay only 270 million Euros – hardly
one fifth of its current quarterly profit. A court in Munich gave a
Siemens manager a suspended sentence – significantly less than what he
could have expected from a trial in Athens. Already in the fall of
2014, new legal proceedings had been opened in Athens to
comprehensively investigate this systematic corruption.


By piotrbein