Public sector failure - Culture of rewarding ineptness
The former chief accountant of the European Commission, Marta Andreasen MEP, stated yesterday that the nomination of Mr Cardiff should be withdrawn in view of the debacle over the recently disclosed error that led to the national debt being overestimated by €3.6bn.
The national debt was not only overstated by €3.6bn due to an accounting error, but this was compounded by the failure to take action to rectify the situation after the National Treasury Management Agency notified the Department of Finance of the error in August 2010, and on two or three subsequent occasions.
