Draghi left alone with no hope of boosting EU growth as Merkel just focuses on next elections

It was last Monday when the president of the European Central Bank (ECB) discussed with members of the economic and monetary affairs committee at the European Parliament (EP) about the EU economy in the aftermath of the UK referendum, revealing that the euro area economy shows notable adjustment properties to the global economic and political uncertainty. […]

EU Commission indifferent on Court of Auditors’ recommendations

Only a few days after the European Court of Auditors, the independent audit institution of the Union, said that EU money is spent with “little interest in the results achieved”, the Commission published its own assessment on the effectiveness of EU spending, alleging that the “EU budget (is) increasingly an investment tool”. The ECA is […]

Court of Auditors: EU budget money is there to be spent not to create value

The European Court of Auditors, the independent audit institution of the EU, today signed off the 2012 EU Budget, but it added a lot of asterisks and remarks over the Union’s payments for last year, singling out inappropriate, ineligible and illegal spending. A first and general comment by the ECA is that “Looking at the […]

Draghi: Germany has to spend if Eurozone is to exit recession

Mario Draghi, in a historic speech delivered yesterday in his home country, bravely surpassed the limits of his office as President of the European Central Bank, and upon receiving an honorary degree in political science, from the Luiss “Guido Carli” University in Rome, he warned the European leaders that in order to safeguard the European […]

Commission’s spending totally uncontrolled

A few weeks ago the European Court of Auditors established that the money spent on EU projects to enhance energy efficiency (€5 billion since 2000) did not achieve targets. More recently, the CoA also found that “The effectiveness of EU funding for municipal waste management (€10.8bn in the period 2000-2006) infrastructures was limited, due to […]