Court Of Auditors, EU - EIGHTEEN YEARS!

EU spending not signed off for 18^th year in a row!
The EU’s Court of Auditors has today published its annual report on the discharge of the EU budget, concluding that the overall error rate within the 2011 budget was 3.9%, up from 3.7% in 2010. Overall, controls on 86% of EU spending were deemed to be only partially effective. The Telegraph cites Vitor Caldeira, the ECA's chairman, as saying that the auditors had "found too many cases of EU money not hitting the target or being used sub-optimally”.
Court of Auditors report Telegraph EUobserver Euractiv BBC: Hewitt Rzeczpospolita Open Europe research: Reforming the EU budget