Financial Times FT.com

Brussels misspent E3.1bn of farm aid

By Reuters Brussels Tuesday September 21 13.06

European Union auditors uncovered fraudulent or misspent farm aid worth 3.1 billion euros ($3.79 billion) between 1971 and 2002, the EU’s financial watchdog said on Tuesday.

Export refunds plus subsidies to fruit and vegetable farmers accounted for over half the missing aid, the European Court of Auditors said.

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