The European Union has imposed a €392.2 million ($695 million AUD) fine on Greece following a major scandal involving the mismanagement of agricultural subsidies by the government agency OPEKEPE between 2016 and 2022.
The European Commission announced Friday it would reduce Greece’s future subsidies by 5%, citing years of inadequate oversight and poor functioning of the subsidy management system.
Greece is projected to receive around €1.9 billion in direct subsidies next year.
The penalty follows recent charges by European prosecutors against dozens of Greek livestock farmers accused of fraudulently claiming EU aid by submitting false declarations about land ownership or leases.
Most of the 100 suspects reportedly did not reside in the areas they listed in applications for funds from the European Agricultural Guarantee Fund and the European Agricultural Fund for Rural Development.
In response, Greece has pledged to restructure OPEKEPE, which distributes €2.4 billion annually in subsidies, by integrating it into the national tax authority, with international consultants supporting the transition.
Source: MSN.
