EU investment bank 'wide open to abuse by fraudsters'

Last week, dramatic news came from Italy: a state of emergency had to be declared in Venice following dramatic floods – the city was engulfed by 1.87m high-water levels.

One question now very much on the minds of those affected is why a much-vaunted multi-billion dollar flood protection scheme, known as the Mose project, failed so dismally to keep the flood waters at bay.

Many blame corruption associated with the project, which...