There was good news for eurosceptics on Tuesday, as the European Court of Auditors (ECA) published its report into last year’s EU budget. The audit is already being used as yet another reason to push for a real-terms cut in the EU’s future budgets later this month.
The ECA is charged with assessing how Brussels spends its money, and its report for 2011 showed, once again, that the EU’s financial management leaves something to be desired. It found that a host of payments to EU-funded projects were affected by “material error”, with an estimated error rate of 3.9 per cent for the EU budget as a whole. Read more