Auditors Criticise Eu Spending For 16Th Year In A Row

[Charlie The Tramp Returns]

EUobserver

EUOBSERVER / BRUSSELS – The EU's cohesion policy, accounting for one third of the total budget, continues to be the most prone to errors and fraud, although the situation is improving in comparison to previous years, the European Court of Auditors has said.

Over a third of the €35.5 billion allocated by the EU in 2009 for regional infrastructure projects were affected by errors, either unintentional, as EU funding rules are often too complex for regional authorities and small contractors to cope with, or as a sign of fraud, the annual report of the Court of Auditors says.

This is the 16th year in a row when the Court of Auditors, based on sample checks in all EU expenditure and revenue areas, is not able to give a clean bill of health to the overall budget.

It makes you wonder the true amount that has been syphoned off over the years, I would hazard a guess at billions of Euros.