By Max Clarke

Analysts from the Zermatt Summit report that the world is now considered a more corrupt place than it was three years ago, with some 56% of people interviewed by Transparency International believing their country had become more corrupt.

Bribes were also a concern although less common in the EU and North America. Political parties have long been regarded as the most corrupt institutions and analysts blame rising concern on the global financial crisis for undermining people’s faith in government, banks and economic institutions. A recent BBC poll suggested that corruption is the world’s most talked about problem.

Responding to this breaking news, Christopher Wasserman, President and Founder of the Zermatt Summit, which is campaigning for greater transparency, accountability and responsibility in business, believes that the common approach of more legislation will not help unless business leaders take responsibility and behave more ethically themselves, and cites the recent global credit crunch as a result of poor ethics and transparency.

Wasserman said, “Sadly with corruption on the increase, it is becoming even more critical that someone makes a stand and makes efforts to turn things around. Good governance should be at the heart of any business organisation or country and these attributes should be displayed from the top in order to provide a good role model for others to follow.

"From an economic sense I see this is a fundamental requirement for stability and growth to return to the world markets as the continued loss of confidence is hurting our economies, and ultimately the root cause is loss of trust which has fallen to an all time low and could fall further. For stability to be restored and sustained, we urgently need to govern and run our companies with an ethical, transparent and accountable mandate which needs to lead to a significant change in leadership behaviours, without which we are heading for further catastrophe.