Fraud in EU Finances for 11th Year

Posted November 16th, 2005 by AlphaPatriot and filed in Europe
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Theorem: Corruption is a way of life outside of English-speaking countries:

Europe’s official financial watchdog has refused to approve the EU’s accounts for the 11th year in a row because they are so full of fraud and errors.

The European Court of Auditors refused to give a statement of assurance on the EU’s E100billion ($160.3 billion) budget for 2004. “The vast majority of the payment budget was again materially affected by errors of legality and regularity,” it said. …

The repeated failure of the EU budget to be approved leads to annual buck-passing, with the commission blaming national governments for not taking responsibility for EU expenditure in their countries, and national governments blaming the commission for not improving the financial controls.

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