EU to set up fraud fighting public prosecutor's office

Twenty European Union countries have agreed to set up a public prosecutor's office to investigate and prosecute anyone damaging the bloc's financial interests.

The Luxembourg-based office will mainly tackle fraud and will be able to run police probes combining EU and national law enforcement agencies, arrest suspects and seize assets across borders.

Estonian Justice Minister Urmas Reinsalu announced Thursday's decision, saying that "even when criminals act across borders, we can now make sure they are brought to justice and that taxpayers' money is recovered."

Only 20 of the 28 EU nations are taking part due to opposition in some about giving up sovereignty over certain justice matters. The office will be up and running in three years.