EU: ‘ SUSPENDS ONE BILLION EUROS IN FUNDING FOR ROMANIAN PROJECTS OVER ALLEGATIONS OF CORRUPTION ‘

#AceFinanceReport – EU:May.07: The EU has suspended €1 billion in funding for Romanian projects because of allegations of corruption and irregularities, AP quoted Prime Minister Victor Ponta as saying Thursday.

The allegations referred to human resources projects, water supply and €400 million for subway projects. If there is no ruling on cases by December 31, the projects will be funded, the prime minister said.

Romania has recently launched a crackdown into high-level corruption, and Ponta vowed to improve performance through the creation of a new agency.

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