Wednesday, November 11, 2009

Court blames three EU states for wasted billions

Spain, Italy and Portugal are responsible for the bulk of the financial errors detected by European auditors in the field of regional policy, where some €2.7 billion should not have been paid out in 2008.

The European Court of Auditors on Tuesday was for the 15th year in a row unable to sign off the EU accounts, due to a high level of errors in the areas of regional and rural development aid, which account for over a third of the community budget.

But the report notes improvements in the management of agriculture payments, which takes the lion's share of the EU budget (€55 billion). The sector has for the first time been given a green light, having an error rate of below two percent.

Unlike in other years, when naming and shaming misbehaving member states was a taboo for both the European Commission and the Court of Auditors, this time around the three southern countries were highlighted for being responsible for some 80 percent of the errors in the field of regional policy.

http://redicecreations.com/article.php?id=8654

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