EU Reclaims €83M In Farm Subsidies

Law360, New York (April 8, 2008, 12:00 AM EDT) -- The European Commission announced Tuesday that it would recover €83 million ($130.4 million) in unduly spent farm subsidies due to inadequate control procedures and noncompliance with EU rules on agricultural expenditure.

Spain was hit the hardest of the 11 countries named. The country paid over €54.9 million for unauthorized planting of vineyards in 2003 and 2004. It also lost €2.75 million for weaknesses in second-level quality controls of bananas and €1.90 million for nonrecovered debts.

France lost €11 million for “nonrespect of recognition criteria concerning producers'...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.