LONDON: The Financial Times, in collaboration with the Bureau of Investigative Journalism, has for the first time traced how the European Union distributes billions through its structural funds, revealing a trail of undetected waste, missed opportunity and even fraud.
As Europeans face the uncertainty of swingeing government cuts, the European Union continues to spend. Its structural fund programme distributes a colossal €347bn of European tax payers’ money across 271 regions in 27 countries. Yet a web of bureaucracy makes it almost impossible to track how the EU’s second largest budget is being spent. Even MEPs have not had a truly transparent view of the data.
Andrew Hill has been appointed the FT’s management editor. He will write a weekly column, contribute features, and blog regularly on developments in business, strategy and management.An award-winning journalist, Andrew was previously City editor and editor of the Lombard column. Previous roles include financial editor, New York bureau chief, foreign news editor and correspondent in Brussels and Milan. Andrew is the administrator of the Financial Times and Goldman Sachs Business Book of the Year Award and organises the FT’s annual ranking of the Top 50 Women in World Business. He is a regular speaker at conferences and on television and radio.
FT editor Lionel Barber said: “Andrew Hill has done a tremendous job as the Financial Times City editor, writing and editing the Lombard column, during the past four years. Andrew is an outstanding reporter who has held a wide range positions during his long career at the FT, including several posts overseas. As management editor he will champion the FT’s management coverage, drawing on the wealth of experience he has gained by working close to the heart of some of the world’s biggest companies.”