The current guess is that at least 5m of those ecus were embezzled.

ECONOMIST: Europe has to scratch its head

The parliament spends millions of ecus promoting both the European cause and itself.

ECONOMIST: All too many don��t

EU's annual budget of 83 billion ecus, just under half is spent on farm support, which provides disproportionate financial windfalls for France, Italy, Spain and Greece, which they do not want to lose.

ECONOMIST: Europe��s budget impasse