EU Fails Another Audit

Given a choice, I am inclined to favor a smaller as opposed to a large government though this blogger has no strong views about what the ideal size of government should be in the overall. Supra-governments such as the EU seeks to become are therefore an interesting phenomenon for examination.

This news item on the BBC News site documents the significant fact that the financial auditors of the EU have failed to approve and sign the accounts for the 13th consecutive year. It is noteworthy though that the major weakness regarding the accounts is not necessarily related to financial fraud but the failure to adhere to technical requirements. A critical area of failure is the Common Agricultural Policy which is essentially a welfare program for EU farmers. This obviously unsound program is responsible for 40% of the EU expenditure and that suggests where the solution should lead. Scrap the thing and save tax payers the cost of duplicated governments.