Best of the Week

Eurocrats in Action, Ripping Off Taxpayers and Running Into Walls to Avoid the Cameras

Politics / Euro-Zone Nov 03, 2011 - 01:56 AM

Best Financial Markets Analysis Article The following must see video shows Eurocrats in action, ripping off taxpayers and inadvertently running into walls to escape the lights of the camera. The video is in German but has English subtitles. A second video follows with French Subtitles.

The YouTube link Expense Allowance Abuse by MEPs contains additional noteworthy information.

Hans-Peter Martin and RTL in the fight against abuse of expense allowances:

A Member of the European Parliament (MEP) in Brussels earns approx. 14,700 euros per month (~£11,587), according to this RTL Report (in German with English subtitles). How much the MEPs have to work (or don't work) for their €14,700 is the subject of this on-site RTL investigation in Brussels. The video is about MEPs who sign in on attendance lists and then disappear immediately for their weekend. RTL investigating journalists were thrown out of the EU building in Brussels during their work.

Some MEPs try to justify themselves, some to invent excuses, again others flee before the camera and dash off to lifts or also in their confusion bump into the wall (German MEP of the Green Party)!

One-man crusader Hans-Peter Martin, MEP from Austria:
"A Member of the European Parliament earns on an average more than the German Chancellor Frau Merkel and one wants to hide this from the electorate. Therefore, one obviously must get rid of reporters investigating this."

French-Speaking readers may be interested in a similar video French subtitles.

I got the links from Swiss blogger Olivier Crottaz, who has a blog in French, La Chronique de Crottaz Finance.

Inquiring French readers may wish to check it out.

Matter of Perspective

Ironically, the only thing worse than paying outrageous sums of money to these worthless MEP officials for not showing up to work is paying them to show up to work.

Europe would be better off if these guys did nothing at all and the parliament building sold or turned into condos.

Addendum:

Linus from Switzerland writes ...
Switzerland also faced a number of so called EU turbos whose main objective was to join the EMU. Luckily we have constitutional referendums that allowed people to express their opinion. The result was a decision to not to join this most undemocratic structure that will make people hate each other much more than when they were on their own with their own country and currency.

If stupidity hurt, I think Brussels would be one great crying city.

By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com Click Here To Scroll Thru My Recent Post List

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management . Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Visit Sitka Pacific's Account Management Page to learn more about wealth management and capital preservation strategies of Sitka Pacific.

I do weekly podcasts every Thursday on HoweStreet and a brief 7 minute segment on Saturday on CKNW AM 980 in Vancouver.

When not writing about stocks or the economy I spends a great deal of time on photography and in the garden. I have over 80 magazine and book cover credits. Some of my Wisconsin and gardening images can be seen at MichaelShedlock.com .

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