by Summary:
Years of neoliberal economic policies imposed by Brussels and by Italian politicians alike have devastated numerous industrial towns and the very fabric of Italian society, reports Attilio Moro.... Short backgrounder.Consortium NewsThis is the New Italy Attilio MoroSee also SPIEGEL ONLINE: Have the countries in the southern part of the euro area done enough on their side to fix monetary union? Constâncio: Yes. The countries hardest hit by the crisis had high budget deficits and high current account deficits at the start of the crisis. So they were importing a lot more than they were exporting. But a great deal has been done since then. In the meantime, all the countries concerned have a primary fiscal surplus, which means that they are reducing their debt bit by bit. And all these
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Mike Norman considers the following as important: Italy
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Years of neoliberal economic policies imposed by Brussels and by Italian politicians alike have devastated numerous industrial towns and the very fabric of Italian society, reports Attilio Moro.... Short backgrounder.Consortium NewsThis is the New Italy Attilio MoroSee also SPIEGEL ONLINE: Have the countries in the southern part of the euro area done enough on their side to fix monetary union? Constâncio: Yes. The countries hardest hit by the crisis had high budget deficits and high current account deficits at the start of the crisis. So they were importing a lot more than they were exporting. But a great deal has been done since then. In the meantime, all the countries concerned have a primary fiscal surplus, which means that they are reducing their debt bit by bit. And all these
Topics:
Mike Norman considers the following as important: Italy
This could be interesting, too:
Robert Waldmann writes Italy Leading in Neo-Fascism and Anti-Fascism
Sergio Cesaratto writes The economic and social consequences of the war on Europe and Italy
WARREN MOSLER writes Europe’s debtors must pawn their gold for Eurobond Redemption
Sergio Cesaratto writes Maastricht: nessun prosecco
Years of neoliberal economic policies imposed by Brussels and by Italian politicians alike have devastated numerous industrial towns and the very fabric of Italian society, reports Attilio Moro....Short backgrounder.
Consortium News
This is the New Italy
Attilio Moro
See also
SPIEGEL ONLINE: Have the countries in the southern part of the euro area done enough on their side to fix monetary union?
Constâncio: Yes. The countries hardest hit by the crisis had high budget deficits and high current account deficits at the start of the crisis. So they were importing a lot more than they were exporting. But a great deal has been done since then. In the meantime, all the countries concerned have a primary fiscal surplus, which means that they are reducing their debt bit by bit. And all these countries now have a current account surplus; they are exporting more than they import. That is quite a turnaround.Death of the working class by strangulation to benefit the portfolios of the ownership class.
Spiegel Online
ECB Vice President Constâncio: 'Italy Knows the Rules'
Henning Jauernig and Stefan Kaiser interview outgoing European Central Bank Vice President Vítor Constâncio
See also
And the reason why Italians are seething with growing rage aimed squarely at Europe's unelected institutions, is because European Budget Commissioner, German Guenther Oettinger, said the one thing that he should not have: that "the negative development of the markets will lead Italians not to vote much longer for the populists" according to an interview set to be published in Deutsche Welle later in the day.Market "discipline."
The elite is confident that it can jam any policy it wishes on "the little people," you know, the people that voted for Mussolini and Hitler.
Zero Hedge
Italians Furious After EU's Oettinger Says "Markets Will Teach Them" Not To Vote For Populists
Tyler Durden
UPDATE
While it is nothing but a waste of time, today Italy's premier-designate, Carlo Cottarelli, a former IMF official also known as "Mr. Scissors" for his drastic public debt cutting, was supposed to present the country's scandalous president, Sergio Mattarella with a list of people who make up his technocratic government; instead he left the meeting with the president without an agreement on a cabinet team and Italy staring new elections in just two months.
While it is unclear what led to the failure by Cottarelli, who will again meet Mattarella on Wednesday, the inability to lay out his government would force the president to dissolve parliament, leading to elections within 60 to 70 days. He may have little choice: as Bloomberg notes, pressure among barious Italian lawmakers mounted on Tuesday to hold elections as soon as possible, with Ansa reporting that Cottarelli’s efforts were stalled by the parties demanding a vote on July 29, or a week later, on August 5....
Tyler Durden