EUROPEAN COMMISSION’S HANDLING OF FINANCIAL CRISIS WAS WEAK – 26 JANUARY

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EUROPEAN COMMISSION'S HANDLING OF FINANCIAL CRISIS WAS WEAK - 26 JANUARY
26 Jan 2016

EUROPEAN COMMISSION’S HANDLING OF FINANCIAL CRISIS WAS WEAK – 26 JANUARY

Brussels Daily

BXL EU DIARY THIS WEEKEuropean Court of Auditors say European Commission’s handling of financial crisis was “generally weak”.

The European Commission was not prepared for the first requests for financial assistance during the 2008 financial crisis because warning signs had passed unnoticed, according to a new report from the European Court of Auditors. The auditors found that the Commission did succeed in managing assistance programmes which brought about reform, despite its lack of experience, and they point to a number of positive outcomes. But they also identify several areas of concern relating to the Commission’s “generally weak” handling of the crisis: countries treated differently, limited quality control, weak monitoring of implementation and shortcomings in documentation.  Read more

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