EU still can't manage the books

For the 12th year in a row the EU failed to produce financial accounts that satisfy the critical eyes of the EU's own court of auditors.

The EC is now so frustrated with this state of affairs that they (What? Sack the biggest perpetrators of misallocation and erroneous recording of taxpayers money? Promise a War on Bad Accounting? Well?)... take it out on the auditors. Their working methods are now severely questioned by Siim Kallas, the administration commissioner.

As Tim Worstall observes:
One of its chief arguments is that the auditors set the bar at a level far higher than any national government could achieve.

And far below the levels that are routinely expected from private and public companies. This is an argument against the general standards of governmental accounting, not anything else.

EUReferendum ponders: Who cares?
If the EU miraculously produced perfect accounts, with every cent traced, every "t" dotted and "i" crossed, would we suddenly be in favour of the EU?

I think not.
But if an organization with as grand a scheme and ambition as the EU can't even get this right, what good is it then? The worst part of it is: We can't even vote these people out of office, like we would be able to in a functional, real democracy.

And for those that may hope for member state intervention: I don't believe for a minute any member state government will take the EC to task over this. They haven't done so the previous 11 times, so why should they start now?

[UPDATE001] Over at Dhimmi Watch Fjordman details ones more why the EU should come to a swift end: Why the European Union Must be Dismantled.

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