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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. 

Featured on Al Jazeera
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Tokyo government claims its homeless population has hit a record low, but analysts - and the homeless - beg to differ.
3D printers can cheaply construct homes and could soon be deployed to help victims of catastrophe rebuild their lives.
Lack of child protection laws means abandoned and orphaned kids rely heavily on the care of strangers.
 
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