Skip to comments.Auditors reject EU spending 18th year in a row
Posted on 11/07/2012 11:24:03 PM PST by Olog-hai
The EUs top auditing body has for the 18th year in a row said there are too many errors in how EU money is spent, particularly in subsidies going to farmers and fishermen.
A farmer was granted a special premium for 150 sheep. On inspection, the European Court of Auditors found that the beneficiary did not have any sheep, the annual report on EU spending released on Tuesday (6 November) said in a typical case. The auditors also found an alleged fruit processing factory built with EU aid to the tune of 0.2 million, which turned out to be a private residence in northern Italy.
Based on such on-the-spot tests, the auditors concluded that spent EU money in 2011 has an overall error rate of 3.9 percent, which is above the threshold needed for a clean bill of health to be recommended by the court.
(Excerpt) Read more at euobserver.com ...