Zero tolerance for fund fraud, says Elisa Ferreira

The European Commissioner for Cohesion and Reforms argues that the great challenge for the Presidency of the Council of the European Union “will be to get the bazooka [EU recovery package] moving without leaving anyone behind”. In an interview with Diário de Notícias, Elisa Ferreira said that “the goal is zero fraud” on European funds and that “scrutiny will increase”. However, she points out that, in the past, fraud “is much less than 1% of cases”.

Recalling that with the “bazooka it is possible” “to support companies, which can be in in the form of grants”, either through “guarantees, credits or capital injections”, the Commissioner urges countries to support companies and recalls that “many of Europe’s development banks are preparing for this”. “Countries which do not have such funds in their pockets can use these mechanisms to support businesses. By this, I am not saying that there will be no companies in trouble, but at the beginning of the Portuguese Presidency we will start to see a light at the end of the tunnel,” she says.

Asked whether she agrees with the support given to TAP, Elisa Ferreira maintained that “states have the right to make the decisions they deem most appropriate in a competitive framework.”