The European Union (EU) has ordered French fruit farmers who collected subsidies from the French government from 1992-2002 to pay those subsidies back. As Euronews.net is reporting, the EU ruled that the subsidies broke European competition law, and so the farmers must pay the subsidies back plus penalties. Over that time period roughly €330 million ($470 million) were given to fruit farmers in France. The Wall Street Journal’s David Gauthier-Villars reports that the subsidies the EU deemed “unfair aid” were intended to help the farmers overcome over-supply problems in the fruit market. To read the Wall Street Journal story click here.The news is not going over well with French fruit farmers. Euronews.net reports that some farmers have insisted they will not return the money. Additionally, some fruit farmers have taken to the streets and blocked trucks crossing the border from Spain. Meanwhile, France has filed an appeal to the ruling. To read the Euronews.net story click here.
Posted: 08/03/09
