What with accounting scandals at Ahold and Parmalat, bribery allegations against Siemens, corruption at Mercedes, Brazilian prostitutes laid on for a Volkswagen board member and a legal challenge to a pay-off bonus at Mannes-mann, European business has been having a torrid time lately. Now a criminal investigation has been launched into alleged insider share dealing at a sensitive time at EADS last spring. Meanwhile protectionism has blocked cross-border takeovers, and labour-market reforms in France and Germany have stalled.
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