The latest agreement reached at an EU summit on 9 March opens the door for an EU-level prosecutor European Public Prosecutors Office (EPPO) with powers to investigate, prosecute and bring to justice anyone committing fraud that involves the EU budget or cross-border VAT. An estimated €50 billion VAT revenues are lost each year due to cross-border fraud, says the European Commission, euobserver.com writes.
The move is largely procedural but also symbolic for an EU currently debating the possibility of a so-called multi-speed Europe, where some countries can forge ahead with deeper integration.
Some 17 EU states in a letter earlier this year piled on the pressure for EU summit leaders to endorse a smaller EPPO. That letter was signed by Austria, Belgium, Bulgaria, Croatia, the Czech Republic, Estonia, Finland, France, Germany, Greece, Latvia, Lithuania, Luxembourg, Romania, Slovakia, Slovenia and Spain.
9th July 2021
7th July 2021