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Eurostat Scandal
In 2000, internal auditors raised concerns about fictitious Eurostat's contracts with outside companies and referred the matter to the European Anti-Fraud Office, OLAF. OLAF did not react. In 2001, Paul van Buitenen, whose earlier report had indirectly led to the resignation of the previous Santer Commission, produced a second report, but this at first led to no action, until Hans-Martin Tillack and the press started to take interest in the matter. Questions were asked in the European Parliament, OLAF produced a new report entitled "A vast enterprise for looting community funds" as it was reported by Financial Times on May 16, 2003. Finally the Prodi Commission acted. Three senior Eurostat officials were removed from their posts and a number of contracts with outside companies were cancelled. It was alleged that, at least during the 1990s, Eurostat used a double accounting system to transfer large amounts of money to secret bank accounts not monitored by auditors and that t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurostat
Eurostat ('European Statistical Office'; DG ESTAT) is a Directorate-General of the European Commission located in the Kirchberg, Luxembourg, Kirchberg quarter of Luxembourg City, Luxembourg. Eurostat's main responsibilities are to provide statistical information to the institutions of the European Union (EU) and to promote the harmonisation of statistical methods across its Member state of the European Union, member states and Enlargement of the European Union, candidates for accession as well as European Free Trade Association, EFTA countries. The organisations in the different countries that cooperate with Eurostat are summarised under the concept of the European Statistical System. Organisation Eurostat operates pursuant tRegulation (EC) No 223/2009 Since the swearing in of the von der Leyen Commission in December 2019, Eurostat is allocated to the portfolio of the European Commissioner for Economic and Financial Affairs, Taxation and Customs, European Commissioner for the Ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cronyism
Cronyism is the spoils system practice of Impartiality, partiality in awarding jobs and other advantages to friends or trusted colleagues, especially in politics and between politicians and supportive organizations. For example, cronyism occurs when appointing "cronies" to positions of authority regardless of their qualifications. This is in contrast to a ''meritocracy'', in which appointments are made based on merit. Politically, "cronyism" is derogatorily used to imply buying and selling favors, such as votes in legislative bodies, as doing favors to organizations, giving desirable ambassadorships to exotic places, etc. Cronyism is a specific form of In-group favoritism, favoritism. Etymology The word "crony" first appeared in 17th-century London, according to the ''Oxford English Dictionary'' and is believed to be derived from the Greek language, Greek word ''chronios'' (χρόνιος), meaning "long term". A less likely but oft-quoted source is the supposed Irish languag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2001 In The European Union
Events from the year 2001 in the European Union. The year was designated the European Year of Languages by the Council of Europe and the European Parliament. Incumbents * Commission President — Romano Prodi * Council Presidency — Sweden (January–June), Belgium (July–December) * Parliament President — Nicole Fontaine * High Representative — Javier Solana Events * 1 January - ** Sweden takes over the Presidency of the European Union. ** Greece becomes the 12th member of the Eurozone. * 5 March - The electorate of Switzerland vote by a wide margin against joining negotiations to enter the European Union. * 7 June - In a referendum, the electorate of Ireland votes against the Treaty of Nice. * 1 July - Belgium takes over the Presidency of the European Union. * 3 July - The European Commission blocks the proposed merger between American companies General Electric and Honeywell, the first time European regulators have prevented such a move. * 20 September - In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2000 In The European Union
Events from the year 2000 in the European Union. Incumbents * President of the European Council ** António Guterres (Jan – Jun 2000) ** Jacques Chirac (July – Dec 2000) * Commission President - Romano Prodi * Council Presidency - Portugal (Jan – Jun 2000) and France (July – Dec 2000) Events * 1 January - Portugal takes over the Presidency of the European Union. * 3 May - The European Commission recommends that Greece become the 12th member of the Eurozone. * 1 July - France takes over the Presidency of the European Union. * 28 September - In a referendum, the electorate of Denmark votes against membership of the Euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . .... References Years of the 20th century in the European Union 2000s in the European Unio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Scandals
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize Volatility (finance), volatility. Financial analysis is viability, stability, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accountability In The European Union
The European Union employs a variety of public accountability measures to review and reform budgets across government. As the EU's budget is at risk of maladministration, every year the Court of Auditors reports on the management of the budget. European Union auditors have stated that as they implement more transparency and double-entry book-keeping systems, it is likely to improve budget management. In order to strengthen the means of fraud prevention, the Commission established the European Anti-Fraud Office, also known as OLAF, on 28 April 1999, under the European Commission Decision 1999/352. The Office was given responsibility for conducting administrative anti-fraud investigations by having conferred on it a special independent status. Auditing The Court of Auditors checks that all the Union's revenue has been received and all its expenditure incurred in a lawful and regular manner and that the EU budget has been managed soundly. The Court was established on 22 July 1975 by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Court Of Justice
The European Court of Justice (ECJ, french: Cour de Justice européenne), formally just the Court of Justice, is the supreme court of the European Union in matters of European Union law. As a part of the Court of Justice of the European Union, it is tasked with interpreting EU law and ensuring its uniform application across all EU member states under Article 263 of the Treaty of the Functioning of the European Union (TFEU). The Court was established in 1952, and is based in Luxembourg. It is composed of one judge per member state – currently – although it normally hears cases in panels of three, five or fifteen judges. The Court has been led by president Koen Lenaerts since 2015. The ECJ is the highest court of the European Union in matters of Union law, but not national law. It is not possible to appeal against the decisions of national courts in the ECJ, but rather national courts refer questions of EU law to the ECJ. However, it is ultimately for the national c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . The euro is divided into 100 cents. The currency is also used officially by the institutions of the European Union, by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro. As of 2013, the euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar. , with more than €1.3 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in ci ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Account
A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded. Each financial institution sets the terms and conditions for each type of account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan accounts or many other types of account. A customer may have more than one account. Once an account is opened, funds entrusted by the customer to the financial institution on deposit are recorded in the account designated by the customer. Funds can be withdrawn from loan loaders. The financial transactions which have occurred on a bank account within a given period of time are reported to the customer on a bank statement, and the balance of the accounts of a customer at any point in time is their financial position with the institution. Nature of a bank account In most legal systems, a deposit of f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OLAF
Olaf or Olav (, , or British ; Old Norse: ''Áleifr'', ''Ólafr'', ''Óleifr'', ''Anleifr'') is a Scandinavian and German given name. It is presumably of Proto-Norse origin, reconstructed as ''*Anu-laibaz'', from ''anu'' "ancestor, grand-father" and ''laibaz'' "heirloom, descendant". Old English forms are attested as ''Ǣlāf'', ''Anlāf''. The corresponding Old Novgorod dialect form is ''Uleb''. A later English form of the name is ''Olave''. In the Norwegian language, ''Olav'' and ''Olaf'' are equally common, but Olav is traditionally used when referring to Norwegian royalty. The Swedish form is '' Olov'' or ''Olof'', and the Danish form is ''Oluf''. It was borrowed into Old Irish and Scots with the spellings ''Amlaíb'' and ''Amhlaoibh'', giving rise to modern version '' Aulay''. The name is Latinized as ''Olaus''. Notable people North Germanic ;Denmark *Olaf I of Denmark, king 1086–1095 * Olaf II of Denmark, also Olaf IV of Norway * Oluf Haraldsen (died c. 1143), Dan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson sold the publication to Nikkei for £844 million ( US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. The newspaper has a prominent focus on financial journalism and economic analysis over generalist reporting, drawing both criticism and acclaim. The daily sponsors an annual book award and publishes a " Person of the Year" feature. The paper was founded in January 1888 as the ''London Financial Guide'' before rebranding a month later as the ''Financial Times''. It was first circulated around metropolitan London by James Sher ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
