Italy Watch...

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Lord Beria3
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Post by Lord Beria3 »

The historian Niall Ferguson now backs brexit.

http://www.dailymail.co.uk/news/article ... esult.html
'Cameron should have rejected and backed Brexit. Me too,' Mr Ferguson wrote on Twitter today.

He also wrote: 'EU failures: 1 Monetary union 2 Foreign policy (MENA, Ukraine) 3 Migration policy 4 Radical Islam policy. EU deserved Brexit.'
Mr Ferguson added: 'My mistake was uncritically defending Cameron and Osborne instead of listening to people in pubs. Issue was not GDP but future migration.'
This is what the Remainers don't get it... controls over migration are critical to our future security and a small hit to our GBP (if that actually happens) is a price worth paying.

http://www.dailymail.co.uk/news/article ... urope.html

A good article outlining the huge pressures facing the EU.
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Post by snow hope »

Lord Beria3 wrote:The historian Niall Ferguson now backs brexit.
Fair play to him - not easy to change your mind so publically :D
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Lord Beria3
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Post by Lord Beria3 »

http://www.telegraph.co.uk/business/201 ... ts-lesson/
Mr Codogno said the fond hopes of investors will be dashed soon enough. "It is wishful thinking. The banks still have to abide by EU state aid rules and that means a bail-in," he said.

The dominoes will fall, and each one will cause a political storm. Some savers duped into buying junior bank bonds may be reimbursed one day: first they will suffer. Those who bought through pension or mutual funds will get nothing.

The corrosive effect will eat away at the credibility of Italian political order. Any attempt to put off the vote of reckoning until 2018 by recourse to a technocrat government - under the fourth unelected Italian premier in a row - risks feeding the mood of insurrection. And Italians have learned by now that the EU is the villain in this saga.
Ambrose latest. Italy is edging closer to an outright rebellion against Brussels.
Peace always has been and always will be an intermittent flash of light in a dark history of warfare, violence, and destruction
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adam2
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Post by adam2 »

20 billion euro bailout agreed for Italian banks.

http://www.bbc.co.uk/news/business-38391967
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emordnilap
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Post by emordnilap »

adam2 wrote:20 billion euro bailout agreed for Italian banks.

http://www.bbc.co.uk/news/business-38391967
Only €20 billion? Where have I heard that before?
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raspberry-blower
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Post by raspberry-blower »

It appears that whilst the 5 Star Movement may be moving away from a referendum on the EU there are plans afoot to circumvent the Euro.

Kurt Cobb: The Italian experiment and the truth about Government debt
Kurt Cobb wrote: The reason is simple. The Italian government is hard pressed for revenue which is paid in Euros, a currency which the government does not control and therefore cannot create more of.

The tax credit scheme gets around this inconvenience. But it also makes possible a far more interesting possibility. As the writer of the linked piece points out, what if instead of making book entries in a taxpayer’s account, the Italian government issued paper tax credit certificates that could be used to pay taxes?

At first this seems unimportant unless one imagines that everyone who is doing work for the government receives tax credits in the form of paper tax credit certificates. Furthermore, what if those certificates were available in convenient denominations much like paper Euros? Since most Italians have taxes to pay, these certificates could be traded for goods at the local grocery store which also has taxes to pay. And the grocery store could pay its suppliers in certificates because they too have taxes to pay and so on.
Raises a lot of interesting questions although I strongly suspect the ECB (European Central Bank not the England Cricket Board!) will move to stamp out such activities.
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Post by kenneal - lagger »

Then there's the rise of crypto currencies and local currencies as in the Totnes and other local pounds.
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emordnilap
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Post by emordnilap »

kenneal - lagger wrote:Then there's the rise of crypto currencies and local currencies as in the Totnes and other local pounds.
I wish. There aren't enough!
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adam2
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Post by adam2 »

Two of the more prosperous parts of Italy are holding referenda on seeking greater autonomy from the rest of Italy.

The results are expected to be in favour of greater autonomy, not the same as independence but probably a step in that direction.

http://www.bbc.co.uk/news/world-europe-41712263
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johnhemming2
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Post by johnhemming2 »

Catalonia has/had that.
raspberry-blower
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Post by raspberry-blower »

Yesterday's Italian General Election produced an anti-EU vote with .
the Italy League and 5 Star Movement gaining the most:

Reuters: Italy League and 5 Star Movement vie for power after inconclusive vote

The pro EU parties got hammered
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Post by kenneal - lagger »

Ah! The delights of proportional representation!!

You get just the government that the people want and voted for!!! :shock: :shock: :shock:
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johnhemming2
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Post by johnhemming2 »

kenneal - lagger wrote:Ah! The delights of proportional representation!!

You get just the government that the people want and voted for!!! :shock: :shock: :shock:
He says just after the Italians brought in some FPTP.
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Post by kenneal - lagger »

johnhemming2 wrote:... some FPTP.
????
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Post by johnhemming2 »

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