INT/ THEFT OF EU FUNDS GREATER THAN REPORTED

   www.euobserver.com - EU funds fraud is considerably higher than the €600 million reported by member
   states in 2010. “The extent of the illicit activities that lead to losses in the EU budget is really shocking
   […] we assume that the real figure is considerably higher,” EU justice commissioner Viviane Reding told
   euro deputies in the civil liberty committee on Thursday (20 September).
  
   Last year’s EU budget amounted to €125.5 billion but a large amount is allegedly stolen primarily in the
   areas of EU agricultural and regional development programmes. Member states manage 80 percent of
   the EU budget with national authorities in charge of how it is spent and who and how to prosecute
   suspected fraudsters.

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