EU asks France for €1.5 billion back

THE European Union has admitted it overpaid €1.45 billion of agricultural subsidies to France – and now it wants the money back.

France is among 15 member states who have received demands for repayment, according to EU figures, but has received the biggest bill.

The money was paid out as a result of errors and fraud from 2008-2012 according to the European Commission, Le Figaro reports.

It represents 2% of the €40 billion received by France during this period as a result of the Common Agricultural Policy.

The amount was agreed after lengthy negotiations between the French and European governments and should be repaid in three instalments until 2017.

The European Commission had initially asked for €1.8 billion to be repaid.

France was also fined for failing to verify the soundness of subsidies being paid to farmers, particularly those linked to the environment and for the calculations of the size of agricultural land.