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Black Hole In The East
The Times reports that the EU has squandered seven billion euros (£4.9 billion) on a redundant aid programme for Russia and eastern European countries.
The European Court of Auditors has investigated 29 projects in Russia, the principal beneficiary of 'Tacis' (Technological Assistance for the Commonwealth of Independent States) and has found that only nine achieved the objectives for which the EU was paying.
The EU is now deep in one of its biggest financial scandals to date.
The 'Tacis' scheme has donated an estimated 500 million euros per year to 12 former communist countries to promote 'free markets and democracy' since 1991.
Where did it all go ?
Russia has received 1.2 billion euros between 1991 and 1999. (The latest figure available). Anonymous 'cross-border projects' got 1.1 billion euros. Ukraine took 460.8 million euros.
To add insult to injury, a project to test a model for helping the start of new businesses was undermined because it had already been done with aid from the Canadian government.
Another project was to ensure the 'harmonisation' of road standards between the EU and Russia but failed because the EU does not have such a standard. Road material testing equipment remained unused.
In an other endeavour, EU-funded technical equipment was sold off in the former Soviet Union because the recipients did not know how to use it and did not have the necessary internet connection.
Supplied fitness kit aimed at helping children ended up by being used by Russian soldiers.
Hans-Peter Martin, an MEP on the European Parliament'sbudget committee says: "It's a serious scandal in the EU ... Why didn't the commission do anything about it for 15 years?"
Chris Heaton-Harris, a Conservative MEP on the budget committee says: "It's lots of money going down the drain. The EU does not have a very good track record of spending money".
Another surprise is that very few western European publications have added this story to headlines.
It is all very well going east with a European cheque-book, at the expense of west European citizens, but the auditors have belatedly discovered that nobody was looking at the bank statements.
