The formation of the "Identity, Tradition and Sovereignty" (ITS) in the European Parliament " entitles its members to more speaking time, more committee posts and about $1.34 million a year", Intelligence Report reads in its latest electronic issue.

According to the magazine, the group was able to form only after Romania and Bulgaria joined the European Union.

"The creation of a far-right bloc in the European Parliament had long been sought by parties with xenophobic, anti-Semitic and racist views, but only became possible after Jan. 1, when Romania and Bulgaria joined the European Union.

Six far-right deputies from the two new countries brought the total of extremist Euro-deputies to 21, just over the threshold for eligibility for government funds", IR reads.