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The Institute for Ethics and Economic
Policy (IEEP)
Fordham
University is a renowned Jesuit
institution with over 165-year history of emphasis on ethics.
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To
promote Governance with Respect Ethics Accountability and Transparency
(GREAT)
DENMARK
Join a
Discussion site, where you can click on “New Topic.”
Transparency
International’s corruption
rank for this country in 2000=2, corruption perception index =9.8
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Herning, COURT CONVICTS 4 OF INSIDER TRADING. On April
15, 2003, four former bank directors were convicted of insider
trading in connection with the acquisition of Midtbank by the Swedish bank
Handelsbanken. The directors of Midtbank purchased 125,000 of the bank's
shares to cash in on an expected rise in the stock price. Midtbank made $7.8
million when the stock rose by 150% in April, 2001. Charges against the four
directors were laid in October, 2001, and Midtbank was fined $145,000. All
four directors were given suspended sentences ranging from 18 months to six
months. (Nando Times, April 15, 2003,
summary by Laurie Morra).
DENMARK WILL NOT INCREASE AID TO KENYA UNTIL CORRUPTION IS
CURBED A delegation of Danish
officials stated their bilateral assistance to Kenya
will remain at $10 million, as last year, as the government needs to enact
the Economic Crimes Bill, the Civil Service Code of Ethics Bill, and the Bill
for restoration of the Kenya Anti-Corruption Authority. The officials stressed to Kenya
that fighting corruption, expediting the privatization process, and allowing
civil society to play a crucial role were factors for sound democratic
development. (All Africa News (The
Nation), May 7, 2001,
summary by Marg Reynolds).
Denmark has a legal expert appointed
by Parliament independently to monitor State and local authority
administration. Citizens can complain to the Parliamentary Commissioner (the
Ombudsman), who can also investigate cases of his own volition. His address is: Folketingets Ombudsmand Gammeltorv 22, DK-1457 Copenhagen K,
Phone: +45 33 13 25 12, Fax: +45 33 13 07 17, E-mail: fto@opalip.sdn.dk One can get information about the
Ombudsman at: www.denmarkemb.org, Click at Politics and Social Affairs and
then Ombudsman.
The Index of Economic Freedom
(by Driscoll-Holmes-Kirkpatrick) for 2001 places Denmark in the “Mostly Free”
category with a rank of 16 (Ranks range from 1 for Hong Kong to 155 for North
Korea, Wall Street Journal, Nov. 1, 2000). H. D. Vinod’s trimmed correlation
analysis indicates that countries free from economic regulation are less
corrupt. After allowing for some exceptions by 20% trimming, the correlation
is near 0.9.
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