Ireland has been given its lowest ever ranking in a global index which measures perceptions of corruption.

176 countries were part of the Transparency International study.

It revealed that several developing countries - like Uruguay and The Bahamas - have a better reputation than Ireland.

Eurozone underperformance

In the Corruption Perceptions Index Denmark, Finland and New Zealand tie for 1st place with scores of 90 helped by strong access to information systems and rules governing the behaviour of those in public positions.

Afghanistan, North Korea and Somalia once again cling to the bottom rung of the index. 

The survey says that in these countries the lack of accountable leadership and effective public institutions underscore the need to take a much stronger stance against corruption.

Underperformers in the Index this year also include the Eurozone countries most affected by the financial and economic crisis. 

Transparency International says it has consistently warned Europe to address corruption risks in the public sector to tackle the financial crisis, calling for strengthened efforts to corruption-proof public institutions.

Cobus de Swardt is Managing Director of Transparency International. 

"Corruption is the world's most talked about problem" he said.

"The worldss leading economies should lead by example, making sure that their institutions are fully transparent and their leaders are held accountable".

"This is crucial since their institutions play a significant role in preventing corruption from flourishing globally" he added.

"Low ranking linked to Tribunal inquiries"

Transparency International says the low Irish ranking can be linked to Tribunal inquiries into corruption and payments made to politicians.

Spokesperson John Devitt says our poor performance could have a negative impact on investment into Ireland. 

 Transparency International explains its latest index: