3167th ECONOMIC and FINANCIAL AFFAIRS Council meeting Brussels, 15 May 2012
Commission recommends abrogation of excessive deficit procedure for Italy, Portugal, the Czech Republic and Slovakia
The European Parliament adopted today a report on the protection of the EU’s financial interests. The European Commission welcomes this document as an important support in the fight against fraud affecting the EU budget. The report by rapporteur Francesco Musotto highlights the paramount importance of a constructive cooperation between the Member States and the Commission. It stresses the key responsibility of the Member States for the sound management of Community revenue and expenditure, in particular in the areas of agriculture and structural funds, and including the recovery of unduly spent sums. Finally, the report requests concrete follow-up actions, including measures against certain Member States