European Commission to cut billions in subsidies for Czech programmes
The European Commission is planning to cut 12.5 billion crowns in subsidies for two Czech operational programmes, a spokeswoman for the commission said on Tuesday, quoting serious problems with the administration and supervision of the funds as the reason. The planned move will affect the Transportation and Environment programmes which will have to be covered by the state budget; Czech authorities might be however able to use the funds to finance other projects next year. Czech Foreign Minister Karel Schwarzenberg said he had been worried the losses would be even bigger. However, the European Commission is yet to decide whether it will also slash funding for another two Czech operational programmes.