The presentation of the European Court of Auditors’ (ECA) annual report to the European Parliament on Wednesday, October 22nd turned into one of the most tense sessions of the current legislature. What was meant to be a technical debate on the Union’s financial status became a fierce political reckoning. Several MEPs condemned the “impunity” with which the Commission manages EU funds, and in a climate of widespread outrage, some even claiming the European executive “should be behind bars.”
The spark was the ECA’s report on the 2024 fiscal year, presented by its president, Tony Murphy, which delivered an adverse opinion on the EU’s spending for the sixth consecutive year. According to the report, 3.6% of total spending from the EU’s traditional budget was affected by material errors or lacked adequate controls, amounting to tens of billions of euros in misallocated funds—whether intentionally or not. In the area of cohesion policy, the error rate rose to 5.7%, and the Court warned that national verification mechanisms “routinely fail” to detect irregularities that should have been caught by the competent authorities.
The report also highlighted shortcomings in the Recovery and Resilience Facility (RRF), the post-pandemic recovery fund. According to the ECA, over 4,200 milestones and targets have yet to be assessed, with less than a year remaining before the program’s deadline. In some cases, payments were made even though member states failed to meet required objectives, casting doubt on the reliability of this €720 billion+ instrument.
“The problem is not just accounting-related, but structural,” Murphy warned during the plenary. “If national and European institutions are not detecting errors, it means the controls aren’t working and accountability is lacking.” The report also underscored the growing risk of EU indebtedness, as liabilities from extraordinary programs—such as Next Generation EU—could exceed €900 billion by 2027, with interest costs doubling initial forecasts.
Murphy’s remarks ignited strong reactions in the chamber. From the Patriots for Europe (PfE) and European Conservatives and Reformists (ECR) groups, the criticism was particularly scathing: “No one is held accountable for the billions lost. If this happened in any country, there would be resignations and legal proceedings,” said a PfE MEP. The ECR accused the Commission of “treating taxpayers’ money like a private fund with no owner.”
EU Budget Commissioner Piotr Serafin tried to defend the Commission’s management, stating that “the Commission shares the diagnosis and will implement the Court’s recommendations.” However, he acknowledged that the error rate “remains too high” and that “national controls need to be strengthened.” His comments were met with cold responses and jeers from several parliamentary groups.
This controversy comes at a sensitive time: Parliament and the Council are deep in negotiations over the Multiannual Financial Framework 2028–2034 and the 2026 budget, amid growing mistrust toward the Commission. According to the Court, rising expenditures and the complexity of EU programs “put the future sustainability of the Union’s finances at risk.”
Javier Villamor is a Spanish journalist and analyst. Based in Brussels, he covers NATO and EU affairs at europeanconservative.com. Javier has over 17 years of experience in international politics, defense, and security. He also works as a consultant providing strategic insights into global affairs and geopolitical dynamics.
