Heart of Europe, Hub of Waste: €250M in EU Funds Misused by Brussels Region

It’s not true: €250M fraud accusation against Brussels Region falls flat

An investigation has accused the debt-ridden Capital Region of Brussels of unlawful using €250 million of EU funds meant for the metro expansion into debt…

Heart of Europe, Hub of Waste: €250M in EU Funds Misused by Brussels Region

After many recent hardships, Brussels is now caught in a spiraling financial and political crisis. A Brussels Times investigation has uncovered what appears to be large-scale budgetary fraud, as regional officials allegedly misused €250 million in EU loans earmarked for metro expansion to cover old debts and general expenses. The Brussels Region borrowed €175 million from the European Investment Bank (EIB) and €75 million from the Council of Eur…