Theoretically, the not-100% rule is meant exactly so that the receiving state won't spend the money in completely wasteful projects. Unfortunately, this isn't a

Theoretically, the not-100% rule is meant exactly so that the receiving state won't spend the money in completely wasteful projects. Unfortunately, this isn't a full assurance against the long term stupidity/short term greed of local politicians and voters alike - this happened in Southern Italy too, and surely in many other places.