Re: How Stupid We all Are!
Originally Posted by
Patriot1967
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Well swerved, are you a politician?
It is important to stress that around 80% of the EU budget is managed by member states themselves, and not by EU institutions. The EU transfers funds to the national treasuries and then the countries themselves decide which projects to spend the money on. The auditors have called on EU countries to take more care in their spending.
In 2014, the court found that €666m (£524m) from the EU fund that is given to countries to finance projects in underdeveloped areas, was "poor value for money". Poland, for example, built three airports, in Lodz, Rzeszow and Lublin, which have received more than €100m of EU funding, but which have not attracted enough customers to keep them in business.
There are UK-based examples too. In 2008, the Canolfan Cywain rural heritage centre opened in Gwynedd, Wales, after it received £900,000 from the EU structural development fund. It ran into financial difficulties in September 2011 and closed a year later.