More EU fraud
The EU has a worse record of financial proberty than Enron. Enron where able to get their books signed off every yet up to the collapse, the EU hasn't been able to manage this for a decade. So here is the latest scandel: 5 billion Euro of a 7 billion Euro project has gone missing.
the auditors investigated 29 representative projects in Russia, the main beneficiary of the programme, and found that only nine actually achieved the objectives for which the EU was paying. In total, only 5 of the 29 projects had any lasting impact.The Commision spokeswoman said that there where now systems in place to prevent further fraud, but after all the years of fraud in so many areas of the EU's budget I am very sceptical.
posted by chris at 4/21/2006 01:57:00 pm
1 Comments:
"The Commision spokeswoman said that there where now systems in place to prevent further fraud, but after all the years of fraud in so many areas of the EU's budget I am very sceptical."
Quite so, you are very right to be sceptical - from the BBC website last November:
"For the eleventh year in a row, the European Union's annual accounts have failed to gain a seal of approval from the EU's own auditors. The European Court of Auditors said the amount of spending they could verify rose to 35% in 2004 from 6% in 2003."
http://news.bbc.co.uk/1/hi/world/europe/4438888.stm
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