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Phoney Holiday Buys – and the Famous Slovenian Sugar Industry!

  • March 4th, 2007
  • Posted by 7thmin

png-landscape.jpgLatest EU moves have brought a clamp-down on fraudulent commerce across borders, and the winding up of an uneconomic sugar enterprise.

NOT-SO-SWEET LIFE ON THE BEACHES

The European Commission has announced (28.2.07) a co-ordinated attack on fraudulent practices where a business based in one EU country will operate across the border in another one.

Examples given were misleading brochures in the travel and real estate fields, including wrong information used for promoting time-share holiday apartments; or the refusal of companies to repay advance payments where warranted.

The new system will set up agreements where governments in one member country can take action against a defaulter in others, to include: guaranteed access for clients to inspect properties for sale or partial sale; fines, or forced closing down of businesses.

SOME SWEETENERS FOR A SUGAR SHUT-DOWN

Restructuring of the sugar industry in Europe with extensive reduction of production quotas have forced the shut-down of the only sugar factory in the country of Slovenia.

Managers are said to be hoping to conbvert the plant for making bio-fuels, but that would be costly, estimated at around EU 35-million (A$ 59-million; dcerates.com, 3.3.07), and out-of-quota prices paid to sugar beet farmers would be down on their accustomed market prices.

The European Commission is offering a softer landing in the form of grants to provide redundancy payments to the refinery workers and compensation for farmners.

Slovenian government sources are quoted as saying the payment from Brussels could be as high as EU 38.9-million (A$ 65.6-million), according to the newspaper New Europe.

Reference: “Slovenia Plant to get EU restructuring aid”, New Europe, Brussels, 25.2-3.3.07, p 23

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