The post you are reporting:
John, thanks for the link; wish I'd had it earlier, it could have saved me from a lot of reading. Having said that, the EU loans are not highlighted in any way in the BBC Annual Report and Accounts, which I think is very naughty.
"The first £66m loan in 2003 was used to fund "the fit-out" of a new building in the BBC's Media Village development in west London, which was later sold for a profit. The second loan for £25m and the third for £50m were made to BBC Worldwide, the corporation's profit-making arm, to pay for the acquisition of overseas rights to programmes made by the BBC in the UK."
Another interesting point about this august national body, is the size of the salaries and benefits being paid to the Executives. The Beeb attacks bankers and others but a glance at their remuneration shows some fairly staggering sums of public money being spent on something other than programme making! If I remember correctly, one of the Execs is on £640,000 per annum plus £50,000 benefits.