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> EU fines represent about 3% of EU revenue wow. Really? You make that sounds like its insignificant, but it really isn't. Fines that go in to the 'consolida
by shadowmint 8y ago
> EU fines represent about 3% of EU revenue
wow. Really?
You make that sounds like its insignificant, but it really isn't.
Fines that go in to the 'consolidated budget' for a country or region doesn't seem right; it's blatantly in their own interest to lay out fines, regardless of if the behaviour warranted it or not.
This seems very familiar to the US property seizure laws; the line between 'justice' and 'flat out corrupt' is fine, and there's significant financial gain to walking the corrupt side of the line.
I don't think this is anything to be proud of.
- isostatic 8y agoEU revenue isn't that high. The US Federal budget is $4,000b, the EU budget is $170b Over 4.5 years, from 2013 to 2017, EU fines totaled nearly $10b. That's $2b a year, or just over 1% of the EU's total revenue. https://www.cnbc.com/2017/06/27/the-largest-fines-dished-out-by-the-eu-commission-facebook-google.html https://www.cnbc.com/2017/06/27/the-largest-fines-dished-out...
- kolbe 8y agoThe EU just fined Google alone $5b. So clearly using past numbers is not an indication of their current or future intentions.
- germanier 8y agoFines don't increase the EU budget. Instead the contributions of the member states are reduced proportionally. The EU itself does not profit financially from fines and therefore I can't see even see a hint of a conflict of interest. But anyway, fines going into the general budget is a very usual situation which poses no problem in a stable administration.