Office workers walk in the business district of Madrid, Tuesday Jan. 15, 2013. Spain has sold an above-target euro 5.8 billion ($7.74 billion) in short-term bills at a sharply reduced interest rate, reflecting easing investor concern over the country's ability to manage its finances without a bailout. Spain's borrowing costs have plunged from unsustainable highs last year after the European Central Bank pledged to help countries by buying up their short-term bonds if they apply for help. Spain says it does not need outside aid for the moment.(AP Photo/Paul White)
January 21, 2013 - 2:49 AM
FRANKFURT - A survey shows that public trust in business, government and media leaders has fallen in the wake of financial and political scandals.
The 2013 edition of the Trust Barometer from U.S.-based public relations firm Edelman shows people increasingly regard experts such as academics or even their peers as more reliable sources of information than institutional leaders.
Edelman's president and CEO, Richard Edelman, has told The Associated Press that the survey found "a very significant crisis of leadership."
The results come in the wake of inside trading scandals in the United States, a major corruption case involving Chinese politician Bo Xilai, and reports that major banks manipulated a key interest rate benchmark.
The survey probed the opinions of 31,000 people in 26 countries.
News from © The Associated Press, 2013