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European Union (EU) wasted lot of money last year. annual report on EU spending said Union misspent almost five billion euros (around US$6.4 billion). boss of European Court of Auditors, group that made report, said EU was very careless and should look after its money better. He said his team “found too many cases of EU money not hitting target”. Vitor Caldeira, Court's president, said that many Europeans have to be careful with their money because of financial crisis. He said EU should take greater care with its budget because of weak economies in Europe: “These problems matter more than ever,” he added.

spokesperson from EU told reporters that spending mistakes were under 4 per cent of total EU budget. He added this was better than 7 per cent error rate from five years ago. Some of mistakes were very big. EU spent money on wrong things. One example was they gave money for training electronics employees to other kinds of workers. Another was giving money to forestry projects instead of farming programmes. Mr Caldeira said that only two areas of EU budget had no mistakes. Marta Andreasen of UK Independence Party said mistakes showed EU was seriously mismanaged. She also said this problem should "set alarm bells ringing".

 


 
 

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