March 25th, 2004
Carving up the loot
I don’t need to mention what I think of the EU ruling to fine Microsoft €497.2 million ($605 mil U.S.) for having the audacity to make superior software. However I was curious how the loot would be split it up. Turns out that it will be a trickle into the €100bn EU budget, which is allocated as follows:
Almost half of this is spent on agricultural aid, for subsidising farmers and their produce, and for improving rural development.Yes, nearly 100% of it is welfare. The linked article also mentions that the DOJ is complaining – such a fat cash cow should not be shared that easily.The second biggest portion - about one-third - goes on EU funding, which supports the poorer countries in the union. Currently Ireland, Spain, Portugal and Greece benefit most from this fund.
Money has also been allocated for the 10 countries set to join the union - some 40bn euros in the first three years of enlargement, in which time these countries will pay 15bn euros into the EU budget.
The remainder goes on research and educational programmes, aid to regions outside the EU such as Africa and the Balkans, and administration costs…