Black Money – Financing Politics

Padmini Arhant

Politics and election financed and funded with black money is blatant corruption denying the republic in any part of the world real democracy.

Beginning at the top – Prime Minister, Presidential,  national and state legislative candidacy right down to municipal and local election campaigns are flooded with illegal funds from all over including foreign destinations and unsavory means of all kinds making election a mere formality.

European Commission President Ursula Von der Leyen advised Ukraine President Volodymyr Zelensky during the latest visit to address corruption in Ukraine in order to qualify for EU membership.

European Commission positioned as powerful and influential authority in Europe sharing the concern with a nation on their turf  viz. Switzerland  – the safe haven facilitating and safeguarding black money and diverse illicit funds ranging from shady deals, political kickbacks to tax evasions, embezzlement, bank frauds depleting ordinary citizens hard earned savings, human  trafficking, drugs smuggling transactions, extortions, terrorists’ arms trade, organ sale proceeds to name a few…would reflect EU and European Commission’s serious commitment to stymie corruption.

Switzerland is a proud economy with financial security backed by massive gold reserves placing the Alpine nation in a very comfortable economic status along with self-highlighted political stability. The Swiss citizens are also stated as the highest wage earners with GDP per capita US $82,200 at the end of 2021.

Accordingly, Switzerland’s statement to remain a non- member of EU and European Economic Area (EEA) citing economic disadvantage in light of making more contributions to EU in exchange for less or no benefit explains western Europe and EU status quo.

Juxtaposed, the economy of nations predominantly developing country in many regions of the world are deprived of financial resources largely due to systemic corruption with national treasury siphoned off by those in politics, economic sector, entertainment and super-wealthy in society reaching the vaults in Swiss banks and other tax havens of the world.

Indian government in the latest shock treatment to economically crippled demography comprising majority frustrated unemployed youth announced the end of long term defense force recruitment. The enlisting is now replaced with four-year contractual agreement of which barely 25% to be retained subject to requirement.

The brazen decision without any warnings or notice to the public ahead of time, the signature tradition of the incumbent Indian government sparked violent eruption in northern states and one southern state in India. The government further notified on the policy to scrap pension and medical benefits to armed forces serving at the infantry and lower divisions – the front line action troops facing the firing squad, drone and missile attacks on the land, sea and air.

The government defended the unpopular draconian strategy to go after the foot soldiers as critical claiming defense budget reallocation to capital expenditure and justified action against combined armed forces eliminating retirement and health benefits to them as unaffordable.

Now the interesting fact is India’s major proportion of wealth is stashed away in Swiss banks with the recent report boasting more than 50% increase than previous year in black money hoarding held in Swiss bank safe deposits protected from any repatriation to the original source i.e. ordinary Indian population.

The Swiss bank accounts with illegal money are held by Indian political members beginning with the current Indian Prime Minister, the political opposition viz. Congress and other regional parties like Tamil Nadu Chief Minister and family…besides the prominent Indian billionaires, celebrities in the entertainment and other members in society.

While the Swiss economy is thriving from black money transfer from different parts of the world like India and several nations, the economic situation as a result of legitimizing and institutionalizing corruption culture in Europe and tax havens alike, the economic plight of citizens not barring members of the armed forces are deteriorating to the point of no return.

The debilitating economic conditions again directly linked to corruption combined with  government dismal performance confirming failure in crisis management are leading to suicide among young army aspirant and jobless youth in the country.

The progress and prosperity of any nation or region in the world at the economic expense of population in developing nations leaving then with no choice or opportunity for survival or basic existence is unconscionable grave sin.

The trend defines the civilization reversal in the space exploration and inhabitation age with human values diminishing in prioritizing own interests at others’ colossal loss and misery.

EU, European Commission and importantly Switzerland – the key stakeholder and beneficiary of corruption funds in Swiss banks declining such remittance from anywhere would alleviate corruption in India, Ukraine and world over.

Anything short of rejecting corruption money would exacerbate global economy sooner than later. Not to mention the inaction raising credibility factor for EU and European Commission demands on other nations – the developing states in particular to curb corruption.

Padmini Arhant 

Author & Presenter 

PadminiArhant.com

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