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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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'Justice for All' demonstrations swell across the US over the deaths of African Americans in police encounters.
Six former Guantanamo detainees are now free in Uruguay with some hailing the decision to grant them asylum.
Disproportionately high number of Aboriginal people in prison highlights inequality and marginalisation, critics say.
Nearly half of Canadians have suffered inappropriate advances on the job - and the political arena is no exception.

 
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