European Commission plans to withhold €495m of Hungary’s funding for 2013 over its failure to reduce its budget deficit are ‘unfounded and unfair’, the country’s government said yesterday.
The European Commission has slashed its 2012 growth forecasts for both the European Union and eurozone and said it now expects the 17 countries using the single currency to experience a ‘mild...
Finance ministers from three European Union countries yesterday voted against formally signing off the EU’s 2010 accounts after they were qualified for the seventeenth year running.
The €130bn Greek bailout deal agreed yesterday provides a ‘comprehensive blueprint’ for putting the country’s public finances and economy back on a stable footing, according to European Union finance...
The European Commission has begun assessing whether International Public Sector Accounting Standards are suitable for adoption by all European Union member states.
Gross domestic product for both the eurozone and the European Union as a whole fell by 0.3% over the last three months of 2011, Eurostat said yesterday.
A global coalition of more 50 charities and campaign groups has called for developing countries to be given a ‘central role’ in the selection process for the next president of the World Bank.
Whole of Government Accounts need to include all bodies that affect the financial position of the government, according to the Public Accounts Committee.
European Union countries’ government debt increased to 82.2% of their gross domestic product at the end of September 2011, according to the EU’s statistical service.
Giving overseas aid directly to poor communities rather than through governments brings ‘real benefits’ and it is surprising the Department for International Development does not use this approach...
European Union support has helped prepare Croatia for membership next year but ‘significant challenges’ remain, the European Court of Auditors said today.
European Union leaders need to be ‘bolder’ in how they tackle the eurozone crisis, reduce budget deficits and encourage growth, Prime Minister David Cameron said today.
The United States government must take decisive action now to reduce its debt and budget deficit and improve financial accounting and reporting, according to former US comptroller general David...
The eurozone is still marginally more likely than not to ‘muddle through’ its current crisis, but if the currency does falter it will send shockwaves around the world, according to an economic...
The Department for International Development should take a more hands-on approach to the provision of aid by private organisations, including appointing a dedicated official, MPs said today.
A Commons committee today said the relaxation of immigration checks at ports and airports last year was ‘highly troubling’, and followed a breakdown in communication between different arms of the UK...
Public sector fraud is on the increase globally, with organisations particularly at risk from their own employees and suppliers, according to research published today by PricewaterhouseCoopers.
MPs have backed the government’s plan to increase aid to conflict-affected countries, but want funding to be dependent on transparency and accountability.
The current financial crisis is just the start of the problems facing Western economies. ‘Normal’ levels of GDP growth might never return, as a result of climate change, an ageing population,...
When the financial crisis began, governments focused on cutting spending to reduce their debts. Now attention is turning to the other side of the coin – raising revenue. Tax collection is the new...
