Romania, Greece and the Czech Republic come last among European countries in terms of friendly business environment, according to a KPMG report. The three countries are most criticized by businessmen for their frequent legislation changes.

The KPMG list, quoted by The Guardian, is led by Cyprus, Ireland and Switzerland, hailed for the ease of understanding their laws and standards, low taxes and a stable fiscal structure.

KPMG analyzed 22 European countries and interviewed some 400 businessmen on the continent. The study shows that low taxes and simple fiscal norms are not sufficient to cater for competitive businesses. The companies are attracted to skilled work force, easy access to raw materials and a good market.