E.U. Auditors: Waste and Fraud Continuing

In other news, sky still blue

The European Union's auditor said Tuesday that several billion euros is still being wasted every year by the 27 member states and the executive Commission — at a time when spending cuts are a key political issue during the economic crisis.

Tuesday's report of the European Court of Auditors said that errors in payments had risen to 3.9 percent of the EU's €129.4 billion ($165.33 billion) 2011 budget and that there were "too many cases of EU money not hitting the target or being used sub-optimally."