Spain’s Alleged Misuse of Post-Covid Funds Sparks Fury in Frugal Northern EU

Spain Accused of Funding Pensions with EU Green Grants

A fiscal rift has opened within the European Union following allegations  that Spain diverted approximately €10 billion in post-Covid recovery funds to shore up its national pension system. Originally earmarked under the Recovery and Resilience Facility (RRF) for digital and green transitions, the funds were reportedly used for ordinary social expenditure, according to a Spanish audit watchdog.  The European Commission and the Sánchez administra…

MichaelSavage.com – Socialist Spain Accused of Embezzling EU Covid Recovery Funds to Pay for Welfare

The socialist Spanish government of Prime Minister Pedro Sánchez is facing accusations of embezzling billions in European Union coronavirus recovery funds to fill holes in its welfare and pension budgets. According to a report from Madrid’s El Mundo newspaper, the Palacio de la Moncloa used upwards of 8.5 billion euros ($10bn) of coronavirus recovery cash…

Spain Accused of Embezzling EU Covid Recovery Funds for Welfare

The socialist Spanish government faces accusations of embezzling billions in EU coronavirus funds to fill holes in its welfare budget.

Spain’s alleged misuse of post-Covid funds sparks fury in frugal northern EU

BRUSSELS — Spain’s alleged misuse of the EU’s post-Covid funds to pay government pensions is triggering outrage in Germany and the Netherlands and reigniting criticism of joint EU debt. The European Commission has backed Spain in the escalating row over whether Madrid misspent up to €10 billion in EU recovery funds — intended to finance green and digital projects to enhance economic recovery — to plug a hole in its pensions system and finance so…