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Monti says corruption undermines Italy''s credibility, competitiveness

ROME, Oct 22 (KUNA) -- Prime Minister Mario Monti Monday underscored importance of cracking down on corruption which was undermining Italy's credibility and competitive capabilities in global economic markets.
"The spread of practices of corruption undermines confidence of markets and international companies in Italy, and counter foreign investments," Monti said in an introduction of a White Paper that analyzes dimensions of corruption.
Monti, who commended his ministers' preparation of an anti-corruption draft law, who was partially approved by the Senate late week, said the fighting of corruption was one of his government's major priorities.
Cracking down on corruption, he said, should take place through full-fledged strategy which aimed at preventing corruption on one side and fighting in on the other.
Monti asserted importance of preventive policy to address reasons and circumstances of corruption.
The White Paper said corruption was costing every Italian citizen around 1, 500 euros every year.
The international transparency authority places Italy in the 69th among the world's most corrupted countries. The World Bank had recently said Italy was amongst Europe's most corrupted states. (end) mn.bs KUNA 222321 Oct 12NNNN