Fraud in EU Finances for 11th Year

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.

Posted November 16th, 2005 Filed in Europe