Europe's biggest banks are happy to do business with corrupt regimes in Africa and Central Asia, according to a new report by UK-based NGO, Global Witness.
As late as November 2007, Barclays in Paris held a private account for Teodorin Obiang, the study says. A scion of the ruling family in Equitorial Guinea, Mr Obiang in the past 10 years spent €4.5 million on sports cars even as 20 percent of children die before their fifth birthday due to poverty in the oil-rich country.
Until...
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Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.