EU EXPORT REFUNDS
July 1st, 2003
BY KEITH NUTHALL
THE EU financial watchdog the Court of Auditors says the European Commission's setting of export refund rates has been insufficiently clear for skimmed and whole milk powder and - to a lesser extent - cereals. The court said the Commission lacked clear guidelines ensuring subsidies accurately reflected world prices, with milk powder exports being over-subsidised.
THE EU financial watchdog the Court of Auditors says the European Commission's setting of export refund rates has been insufficiently clear for skimmed and whole milk powder and - to a lesser extent - cereals. The court said the Commission lacked clear guidelines ensuring subsidies accurately reflected world prices, with milk powder exports being over-subsidised.
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