EC Agricultural Penalties Against Greece in connection to olive oil financing

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EU authorities will withdraw more than $340 million of agricultural funding from Greece because of its lapses in connection to olive oil and arable crops, the European Court of Justice ruled Thursday.

The European Commission had uncovered the deficiencies as part of its checks into the financing of common agricultural policy (CAP).

In a 2007 investigation, the commission found that geographical information system (GIS) for olive cultivation, which Greece uses to check aid for olive-oil production, had so many deficiencies that it had to be regarded as not having been completed in time for the 2003-04 marketing year. Greece also failed to update the olive cultivation GIS for the 2004-05 marketing year, the commission found.

Those lapses led the commission in 2011 to rescind approximately $180 million from EU financing of the olive oil production sector. After Greece missed the deadline to establish the olive cultivation GIS, it cut an extra $5 million.

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