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Petrobras, Why Privatization Alone Can Never Kill Corruption
Hélio Schartsman

-OpEd-

SÃO PAULO — The ongoing corruption and money laundering scandals at Brazil's state-owned oil company Petrobras have badly tarnished the image of the company. Once considered as a sort of national treasure, the public firm faces almost daily revelations about kickbacks paid to politicians from oil sales as part of a scheme to buy votes, which has led to a growing chorus calling for Petrobras to be privatized.

But that reasoning is flawed. If being in private hands was any guarantee against corruption, then there wouldn't be so many directors and managers who have wound up behind bars. That doesn't mean, though, that privatization doesn"t offer a cure to many of the ills that are causing devastating damage to state-owned companies.

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Geopolitics

Has Lebanese Politics Finally Freed Itself Of Iran's Influence?

Lebanon's recent elections have shrunk the legislative block led by national power-brokers Hezbollah. But will a precarious new majority be able to rid the government of the long shadow of Tehran?

Supporters of pro-Iranian Hezbollah sit in a street decorated with picture of the party chief Hassan Nasrallah

Ahmad Ra'fat

-Analysis-

The results of parliamentary elections in Lebanon, have put an end to the majority block led by Hezbollah, the paramilitary group concocted by the Islamic Republic of Iran. Hezbollah and its Christian allies, the Free Patriotic Movement, led by President Michel Aoun, lost their 71 seats and will now have 62 (of a total 128 seats).

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