Friday, January 06, 2012

EU recalls €424 million "sometime" then "immediately" sends €380 million emergency funds

The EU Commission is clearly out of control. EurActiv reports here today, that €425 million in illegal farm subsidies must eventually be repaid by Greece, while tweeting it is immediately forwarding €380 million in emergency funds to a Greek bank:

EC temporarily approved, under state aid rules, a €380 million capital injection into Piraeus Bank

How can the EU Commission grant emergency aid to a Greek Bank when there are so many other active aid packages coming from various sources, many tied in with the EU institutions? Where is this money from and who exactly will be liable?



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