Friday

29th Mar 2024

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Poland arrests 22 suspects in €68m EU fund 'fraud'

A Polish anti-fraud squad, the CBSP, has arrested 22 people in dawn raids on homes and offices around the country on a group suspected of defrauding €68m from EU funds. The group allegedly obtained 118 bogus EU-funded loans for purchases of specialist IT equipment for 89 different companies between 2017 and 2018, Polish authorities said. Suspects face up to 10 years in prison if convicted.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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