Archive

09.07.2018 - 16:13 [ Consortium News ]

Failure of the Left Leaves Italy a Victim of the Market

(24.6.2018) At the end of last month, European Commissioner Günther Oettinger scolded rebellious Italian voters who are fed up with European Union bureaucrats and European Central bankers dominating their country. “The market will teach Italians how to vote,” Oettingerm said.

He had made this remark when it seemed Italy was heading toward fresh elections after the latest political crisis. At the time the spread between Italian and German bonds jumped more than 300 points, aggravating Italy’s heavy public debt. In other words, Oettinger was convinced that the need for financial stability would force upstart Italian voters to get back in line with what the bankers want.

08.07.2018 - 15:43 [ Ansa.it ]

Salvini agrees with Lieberman: Northern League leader on second day of visit to Israel

(30.3.2016) Salvini said that the pair also agreed on the need to intervene „in any way possible“ against ISIS, including with action on the ground, „above all in Libya“.
He said they both thought that migrant flows brought „dangers of all kinds“. Salvini also visited Jerusalem’s Yad Vashem Holocaust Museum and blasted Islamist extremists as today’s Nazis.
„The new Nazis are those who kill in the name of Allah,“ he said.

08.07.2018 - 14:40 [ opensocietyfoundations.org ]

European Advisory Board – Open Society Foundations: Federico Fubini

As a board member, Fubini brings economic expertise and important insights and connections to members of Italy’s media and political institutions. He is an insightful analyst both of the Italian and of the European economic and political scenes, and an influential opinion maker in his home country.

08.07.2018 - 13:39 [ Biagio Bossone, Marco Cattaneo, Massimo Costa, Stefano Sylos Labini / Politico.eu ]

A parallel currency for Italy is possible

By activating a Fiscal Money program, Italy would solve its output gap problem without asking anything of anybody. No European treaty revisions would be required. No financial transfers would be needed. Public debt would stop growing and start declining relative to GDP, thus attaining the EU fiscal goals under the Maastricht Treaty.

15.06.2018 - 09:42 [ Bloomberg ]

Europe’s Fragile Unity Crumbles as Migration Quarrel Spills Over

The issue has returned most visibly in Italy, where Matteo Salvini, leader of the anti-immigrant League, lost no time in falling out with some close European allies over his decision to deny access to port for a refugee vessel. But it’s also forced uncomfortable decisions in Spain and is threatening Chancellor Angela Merkel, who faces renewed domestic turbulence over her open-door stance on migrants that could yet spell her early departure.

04.06.2018 - 15:22 [ Ansa.it ]

Basic income is priority – Di Maio

„We’ll get it there because we have the men (needed) to be treated on the same terms as the other European countries“. He also said that the new government will abolish the centre-left’s Jobs Act labour reform „at once“ because this has „made work precarious“.
„Work is necessary for everyone and it must be dignified. You cannot have starvation salaries,“ he said.

02.06.2018 - 10:18 [ Ansa.it ]

New Conte govt takes over: Basic income says Di Maio, agree with Church on migrants-Salvini

New Interior Minister Salvini said new EU Minister Paolo Savona will try to „renegotiate certain EU rules.“ Salvini also said he would find „convergence“ with the Catholic Church on his planned crackdown on undocumented migrants. „I have started to cultivate useful and numerous relations with various exponents of the Catholic world,“ said the anti-migrant League leader. „We’ll work together, we’ll amaze you, we will decidedly find convergences“.

01.06.2018 - 13:24 [ Express.co.uk ]

EU debate LIVE: Juncker makes shock demand for Brussels to STAND UP to ‚rampant populism‘

(30.5.2018) Mr Oettinger was forced to apologise for his comments after Italy’s populist Five Star Movement and Lega, reacted strongly to the calling the statement “absurd”.

European Council President Donald Tusk, tweeted an “appeal” to EU institutions, saying “please respect the voters, we are there to serve them, not to lecture them”.

31.05.2018 - 18:48 [ Ansa.it ]

Salvini, Di Maio meet for govt talks

Rome Tor Vergata University economics lecturer Giovanni Tria is now being touted as a possible economy minister, sources said.
Savona would move to European affairs and Enzo Moavero Milanesi, a former EU affairs minister, would be foreign minister, the sources said.

31.05.2018 - 00:17 [ FXStreet.com ]

Moody’s reviews Italian banks for downgrade

The following banks are affected by today’s rating actions:

UniCredit S.p.A., Intesa Sanpaolo S.p.A., Banca IMI S.p.A., Cassa Depositi e Prestiti S.p.A., Mediobanca S.p.A., FCA Bank S.p.A., Banca Nazionale Del Lavoro S.p.A., Credito Emiliano S.p.A., Credit Agricole Cariparma S.p.A., Cassa Centrale Raiffeisen S.p.A., Invitalia S.p.A. and Banca del Mezzogiorno – MCC S.p.A.

31.05.2018 - 00:07 [ Ansa.it ]

M5S want to move Savona, League doesn’t

League leader Matteo Salvini, however, said he hoped to form a government with the M5S but rejected the M5S’s idea of moving Savona. He said he wanted „the same team“ and that Di Maio had agreed that Savona was the best man for the job of representing the government’s economic position in Brussels.

30.05.2018 - 15:14 [ Bloomberg ]

Is Italy the Next Greece?

European Central Bank chief Mario Draghi helped end the 2012 crisis by promising to do “whatever it takes” to stabilize markets. But Marcus Ashworth notes the ECB is treating Italy’s agita like a parent reacts to a kid’s demand for ice cream – by saying, “We’ll see.” Until the ECB puts its money where its “whatever” is, contagion will continue, Marcus warns.

30.05.2018 - 15:01 [ theGuardian.com ]

Head of Italy’s M5S rekindles negotiations to form a government

Luigi Di Maio, the 31-year-old head of M5S, Italy’s largest party, indicated on Wednesday he was prepared to compromise on his controversial choice of a eurosceptic economist, Paolo Savona, for finance minister.

30.05.2018 - 14:49 [ Ansa.it ]

G7 to discuss Italy – US official: Italy better off in eurozone says Treasury official

The political situation in Italy and the related turmoil on the financial markets will probably be discussed at this week’s meeting of G7 finance ministers and central bank governors in Whistler in Canada, a senior United States Treasury Department official has said.

30.05.2018 - 11:25 [ David C Bannerman, Abgeordneter des EU-Parlaments / Twitter ]

What’s happening in Italy is an absolute democratic outrage & shows EU will trample over all democracy to protect its tottering Empire & Euro. First they parachuted in Monti as PM 2011-13, a technocrat & ex EU Commissioner, now they parachute in Carlo Cottarelli, ex-IMF economist

30.05.2018 - 11:04 [ Express.co.uk ]

‘It’s a financial coup!’ Five Star RAGES as President makes Italy ‘colony of Germany’

ITALY has become “a colony of Germany”, according to a Five Star MEP who lashed out after President Sergio Mattarella brought in his own unelected europhile Prime Minister to keep a eurozone crisis at bay.

30.05.2018 - 10:40 [ New York Times ]

Italian President’s Loyalty to the Euro Creates Chaos

But in deliberately forcing a new election over the euro, which a majority of Italians say they support, the usually careful and measured Mr. Mattarella expressly put an explosive issue with the potential of transforming Europe front and center. And by using his constitutional powers to block the new government in order to protect Italian savings accounts from increasingly wary markets, he also handed the gifted and gleefully hostile populist parties the talking point of a lifetime before the elections.

30.05.2018 - 10:30 [ Zero Hedge ]

Panic, Crisis In Italy: Dealers Pull Bids As Bonds, Stocks Crash; Euro, Deutsche Bank Tumble As Contagion Spreads

With UK traders returning from vacation, Italy woke up to a sheer selling panic as yesterday’s „modest“ selloff mutated into a full-blown liquidation avalanche, lead by a furious repricing of the BTP curve, where 2Y yields exploded another 170 bps higher on the day rising to 2.60% from negative just a few days ago…

30.05.2018 - 10:12 [ Ansa.it ]

Italy irked by Oettinger ‚markets‘ jibe

Italy’s two populist parties, the anti-establishment 5-Star Movement (M5S) and the anti-migrant Euroskeptic League, led the reaction but were not alone.
Democratic Party bigwig Carlo Calenda, the outgoing industry minister, for instance, called Oettinger’s intervention „intolerable“ and called for him to apologise or resign.

29.05.2018 - 16:58 [ Ansa.it ]

Di Maio calls mobilisation, tricolours

Anti-establishment 5-Star Movement (M5S) leader Luigi Di Maio on Monday called for mass mobilisation in support of the party’s announced bid to impeach President Sergio Mattarella for allegedly sinking an M5S-League government bid.
„I call citizens to mobilise, make yourselves heard, it’s important that you do it right now. We will organise peaceful and symbolic demonstrations“, Di Maio said, urging „everyone“ to come to Rome for a big demo on June 2, national Republic Day.

29.05.2018 - 16:33 [ Rosa D'Amato, Abgeordnete des EU-Parlaments ‏/ Twitter ]

Dear Commissioner #Oettinger repeat with us, with Italian people „The sovereignty belongs to the people”, not to European Commission, not to financial markets. #Italy is not a colony of Germany, no more! We #M5SEuropa will defend italian democracy! #ilmiovotoconta

29.05.2018 - 16:28 [ Bernd Thomas Riegert, Senior European Correspondent for @dwnews / Twitter ]

The markets and a „darkened“ outlook will teach #Italy’s voters not to vote for populist parties in the next elections, told me #EU commissioner #Oettinger in my exclusive interview for @dwnews in Strasbourg. „I can only hope that this will play a role in the election campaign.“

28.05.2018 - 17:19 [ Seattle Times ]

Ex-IMF official tapped to head Italy firmly backs euro

The man tapped to head a neutral government in Italy after two populists failed in their bid is a former official at the International Monetary Fund who is a firm believer in the euro and in the necessity of Italy cutting its stubbornly high-debt load.

28.05.2018 - 16:43 [ Ansa.it ]

No one contemplated euro exit-Salvini

„No one ever thought about quitting the euro,“ Salvini told Radio Capital.
„It wasn’t in our programmes, it wasn’t in Savona’s programme.
„There was just the revision of the banking system and the taxes“.

28.05.2018 - 16:31 [ Ansa.it ]

PD backs Mattarella

The centre-left Democratic Party (PD) on Sunday backed President Sergio Matterella after his controversial rejection the nomination of Paolo Savona as economy minister.
„The League and the 5-Star Movement are using unheard of words and unprecedented threats,“ caretaker PD leader Maurizio Martina said via Twitter.

28.05.2018 - 16:20 [ Bloomberg ]

Italy’s Establishment Vetoes the Populists

Italy’s two populist leaders forged a coalition from very different policy platforms. They found a prime minister that both could accept. Then President Sergio Mattarella vetoed their finance minister and their bid for power foundered, unleashing chaos and rage in equal measure in Rome.

28.05.2018 - 16:19 [ Euractiv.com ]

Technocrat PM to take over in Italy as President steps in to protect the euro

Shortly afterwards, he summoned former International Monetary Fund (IMF) senior official Carlo Cottarelli for a Monday morning meeting — an indication he may be considering asking him to head a government of unelected technocrats.

28.05.2018 - 16:09 [ Ansa.it ]

Impeachment Mattarella – Di Maio

5-Star Movement (M5S) leader Luigi Di Maio said Sunday that President Sergio Mattarella should be impeached after he rejected the nomination of Paolo Savona as economy minister.
„(What) if we have elections and we win and the we go to the president’s palace and they say we cannot form a government?“ Di Maio said on a telephone interview with RAI show ‚Che Tempo Che Fa‘.

28.05.2018 - 16:00 [ CNBC ]

Italy plunged back into political crisis as president faces calls for impeachment

Luigi Di Maio of the populist Five Star Movement (M5S) said Sunday that the actions of Italy’s president had triggered an „institutional crisis.“
Mattarella, who was installed by a previous pro-EU government, refused to accept the nomination of eurosckeptic candidate Paolo Savona for economy minister.

28.05.2018 - 09:53 [ Ignazio Corrao, Mitglied des EU-Parlaments / Twitter ]

The Italian Constitution clearly says “the sovereignty belongs to the people”, not to financial markets. Today #Mattarella is denying the result of free elections and is declaring that Italy is a colony of Germany. It’s a financial coup! Help us. Stand up for italian democracy!

28.05.2018 - 09:45 [ NPR.org ]

In Italy, Populists‘ Bid To Form Government Fails After Presidential Veto

Speaking to the nation later Sunday evening, Mattarella was firm in outlining his constitutional role as guarantor of the cabinet lineup. He said he vetoed Savona out of concern for the negative effect that pick would have on financial markets and on the Italian economy.

22.05.2018 - 13:38 [ Reuters ]

Italian parties pledge backing for NATO amid Syrian uncertainties

(12.4.2018) “I reaffirm … that our intention is to remain close to our allies,” 5-Star leader Luigi Di Maio told reporters, adding: “It is also clear that the end of the fighting in Syria will not be brought about by a military victory but by diplomacy.”

Salvini said Italy had an obligation to remain “loyal” to NATO, but reiterated: “We are firmly opposed to any unilateral actions” in Syria.

22.05.2018 - 13:25 [ theWorldfolio.com ]

Italy, the crucial player in NATO’s new strategic frontier

(14.5.2016) You have mentioned the importance of the interoperability to respond effectively to hybrid threats and terrorist activities. What are the latest developments with regard to Libya? What are the possible scenarios?

Lately there has been a Daesh infiltration in that territory, in the cities of Sirte and Erna precisely. Over the last three or four months, we have witnessed an extension of Daesh terrorists’ control over the coastline of about 300km, with a progressive and consequent increase in the number of their militants.

This doesn’t mean that they have taken over the whole Libyan territory, but the unstable political situation of this country has represented a perfect opportunity for these terrorists to penetrate the country. Not to mention that Libya is rich in oil making it a strategic target.

17.05.2018 - 20:42 [ Ansa.it ]

Rethink Italy part in missions: Those ‚far from national interest‘

A new version of the government contract being finalised by the 5-Star Movement and the League says it is opportune „to reassess the presence of Italian contingents in individual international missions that are geopolitically and geographically, and not only, distant from Italian national interest“.

17.05.2018 - 16:13 [ Politico.eu ]

Italy’s populists seek collision course with Brussels

The new draft still contains elements that would be difficult for Brussels to digest, especially coming from a founding EU member and the third largest economy in the eurozone. These include a call for “reducing EU competences,” as well as changes to the treaties and a denunciation of austerity policies.

13.04.2018 - 06:55 [ Xinhuanet ]

Second round of Italy gov’t talks end in apparent stall

Di Maio, whose party won 32.5 percent of the national vote, last week offered to enter into a government deal either with the center-left Democratic Party of outgoing Prime Minister Paolo Gentiloni, or with the League — as long as it gets rid of its ally, Silvio Berlusconi, who was expelled from parliament in 2013 following a tax fraud conviction.

12.04.2018 - 11:56 [ Ansa.it ]

Second round of government consultations

Later on Thursday Mattarella meets members of the centre-left Democratic Party and then has a meeting with the three parties of the centre-right coalition, the League, Forza Italia (FI) and Brothers of Italy (FdI).
The first day will finish with a meeting with representatives of the anti-establishment 5-Star Movement (M5S).

12.04.2018 - 11:54 [ Ansa.it ]

Italy one of key EU partners – Putin

Italy is one of Moscow’s key partners in the European Union, Russian President Vladimir Putin said Wednesday at a ceremony in which ambassadors presented their credentials, including Italy’s Pasquale Terracciano who thus officially started his mandate in Russia.

29.03.2018 - 20:54 [ Ansa.it ]

Mattarella consultations to start Apr 4

President Sergio Mattarella’s government-formation consultations will start at 10:30 on Wednesday April 4 with Senate Speaker Maria Elisabetta Alberti Casellati, sources said Thursday. They will continue with Lower House Speaker Roberto Fico, and former president Giorgio Napolitano, the sources said.

29.03.2018 - 15:41 [ Techdirt ]

UN Advisor Tells Italy To Drop Its Terrible ‚Fake News‘ Law Before It Does Any Real Damage

Italy is rolling out new laws to deal with „fake news.“ The Italian government can’t define this term precisely, but apparently assumes it will know it when it sees it. And the rest of the country is encouraged to „see something, say something,“ thanks to the government’s online portal which will allow brigaders and hecklers to cleanse the web of things they don’t like. Even if some of it stays up, those reported will possibly still have to spend some time interacting with government employees, which will mostly be a waste of everyone’s time.

And that’s just the bureaucratic side of it. This portal will link to law enforcement so Italy’s uniformed cyberwarriors can go harass citizens over alleged fakery the government can’t even clearly define.