Monday, May 11, 2009

Subsidies for the rich

"The largest beneficiaries of European Union farm subsidies include an Italian bank in Milan, a French chicken giant and an Irish producer of Weight Watchers meals and Yorkshire pudding, according to previously undisclosed data for 2008.

The statistics, for subsidies in 2008, show that an elite class of beneficiaries got more than 700 payments of at least 1 million euros ($1.33 million). The largest payment, 140 million euros, went to the Italian sugar company Italia Zuccheri. An Italian bank, ICBPI, got more than 180 million euros in five payments." (Thanks Toufic)

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