Budget Commissioner Michaele Schreyer unveiled plans this week to speed up the time it takes the EU executive to pay its debts

Date: 20/07/2000

The Commission hopes to cut payment times to 60 days or less in 95&percent; of cases by 2002, through a range of measures, including setting fixed reimbursement rates for certain costs, creating a central register of invoices and laying down rules for paying interest on overdue bills.