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The OHIM, based in Alicante, is about to be told to rein in its budget surplus (Photo: Office for Harmonization in the Internal Market)

The EU agency that has too much money

The European Union has dozens of agencies with offices all over the continent, but there is one that has an unusual problem: it has too much money.

On 31 December 2015, the Office for Harmonisation in the Internal Market (OHIM) held some €449.6 million in cash.

OHIM, based in Alicante in south-eastern Spain, takes care of EU-wide intellectual property issues. It is the office where businesses acquire EU trade marks.

“It's the only European agency that is self-sufficient, and...

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The OHIM, based in Alicante, is about to be told to rein in its budget surplus (Photo: Office for Harmonization in the Internal Market)

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