Tag Archives: White Elephants In The Room: How EU Projects Blow Billions Of Euros Amidst Austerity Talks

White Elephants In The Room: How EU Projects Blow Billions Of Euros Amidst Austerity Talks – 22 February 2015

RT logoAusterity may be hitting some countries hard, but looking at certain EU funded projects, one would never know. From Brandenburg Airport to Donkeypedia, these and other white elephants are flushing billions of taxpayer’s euros down the drain.

Looking at some of the projects the EU has funded over the last decade, one would think the organization had limitless funds at its disposal. Millions across the continent are currently living in poverty following the fallout of the 2008 financial crisis. One in three Greeks is living below the poverty line, while the nation has an unemployment rate of nearly 30 percent. However, that figure is double amongst the country’s youth. Spain is not fairing much better, with almost a quarter of the working population unable to find a job.

Despite pressing needs to address these problems, the EU has been lavishing billions of euros on extravagant projects, with poor oversight into what will happen to these schemes when completed. RT looks at six ‘white elephants’ the EU has funded, which are leaving taxpayers around the European Union thinking why this was ever built.

Read the full story at: www.rt.com / link to original article