Italy Spent EU Subsidies on Elton John Concert

The European Union plans to deduct €720,000 ($981,000) from future payments to Italy after local officials in Naples spent that much in EU subsidies to stage an Elton John concert, reports WSJ.

The concert funds were part of a €2.25 million subsidy that the EU's European Regional Development Fund sent to the Campania region in 2007.

Jeez, don't the Italians know the EU is about pain, suffering and bailing out the banksters and other corporate elite? Do the Italian's think Elton John looks like a bankster or corporate?

Ton Van Lierop, an EU spokesman said that  the subsidies were intended to fund "structural long-term investments". Yup, it was supposed to go to the banksters and other corporate elite