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Report highlights business-political nexus and corruption's $162.19bn annual cost to European economies.
The effort of an anti-corruption protest movement has been undermined by a draft law to grant immunity to politicians
Adrian Nastase was found guilty of receiving bribes totalling $858,000 from a construction entrepreneur.
Constitutional court rejects bid to impeach President Traian Basescu after majority failed to vote in referendum.
In a controversial vote, the country's ruling coalition failed to muster enough support to oust an unpopular leader.
London is considered the "capital of capitalism" allowing foreign billionaires to stash tax free income offshore.
Once considered an economic success story in Europe, it has seen its hopes overturned.
Alan Fisher in Mioveni, Romania

Romania's electoral committee has confirmed that centrist opposition leader Traian Basescu has won the tight presidential run-off against centre-left Prime Minister Adrian Nastase. 

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Muslim volunteers face questioning and threat of arrest, while aid has been disrupted or blocked, charities say.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
ISIL combatants seeking an 'exit strategy' from Mideast conflict need positive reinforcement back home, analysts say.
European nation hit by a wave of Islamophobia as many young fighters join ISIL in Syria and Iraq.
 
 
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