Italian parliament adopts draconian austerity budget

Why the hell would anyone (particuarly a debt-free country) want to join the EU?

"Why the hell would anyone (particuarly a debt-free country) want to join the EU?
(New Zealander, 16 July 2011 12:53)"

Indeed so! The EU and Yankee Land in 2011 are such a far cry from back in 1999.

Italian PM Silvio Berlusconi kept out of the spotlight as parliament approved the EUR 48bn austerity package aimed at averting a full-blown financial crisis.

B92

The same austerity cheerleaders told the Irish in 2008 to bail out their banks. In 2010 they told the Greeks that just one round of austerity would do the trick. In 2011, they tell Italy to cut investments in renewable energy and drastically reduce social spending, imposing a straitjacket on already cash-strapped local governments.

I wouldn't have expected any different from Berlusconi and his party.All our nations are run by an oligarchy of powerful financial and corporate interests linked with politicians and each other through private clubs, masonic lodges etc. They pull the strings of Government behind the scenes ensuring that their privileged lifestyle remains intact.

It's the same elites and organized crime which were allowed to remove their billions into the myriad of tax havens around the planet avoiding tax and permitting the use of the offshore bases to manipulate markets around the globe in a frenzy of speculation led by unregulated hedge funds. The loss of revenue has naturally led to mounting debts and the subprime crisis and national debts have just brought all the dirt, the cheating, the corruption, the greed and incompetence to the surface.

It makes no difference how many austerity budgets Berlusconi is going to pass.The ponzi euroland system is simply bust.Maybe Berlusconi can do us all a favour and call Josepf Ratzinger to give it its last rites.

These are not rumors to dispel, but the facts. Bankruptcy is ante portas. Italian state officials sidestepped the issues of bail-outs and austerities in Greece and Ireland and Portugal, they evaded questions of crisis as if they were immune of insolvency. Now they are to tackle the problem.They are unlikely to expect a bail-out from eurozone countries,they will adopt a package that will be implemented with the cost paid by middle-class people. The opposition voted against the package in both houses, without trying to amend it. Now the comedy goes on, with public statements of appreciation, full support for this reform and so forth. Silvio is over and done with: taxes will increase substantially because of this new piece of legislation, and at the end of the day his initial electoral promises will have vanished.. But chances are not always supposed to be slim. Italy’s economy ranks high in Europe

Why the hell would anyone (particuarly a debt-free country) want to join the EU?

"Why the hell would anyone (particuarly a debt-free country) want to join the EU?
(New Zealander, 16 July 2011 12:53)"

Indeed so! The EU and Yankee Land in 2011 are such a far cry from back in 1999.

These are not rumors to dispel, but the facts. Bankruptcy is ante portas. Italian state officials sidestepped the issues of bail-outs and austerities in Greece and Ireland and Portugal, they evaded questions of crisis as if they were immune of insolvency. Now they are to tackle the problem.They are unlikely to expect a bail-out from eurozone countries,they will adopt a package that will be implemented with the cost paid by middle-class people. The opposition voted against the package in both houses, without trying to amend it. Now the comedy goes on, with public statements of appreciation, full support for this reform and so forth. Silvio is over and done with: taxes will increase substantially because of this new piece of legislation, and at the end of the day his initial electoral promises will have vanished.. But chances are not always supposed to be slim. Italy’s economy ranks high in Europe

Italian PM Silvio Berlusconi kept out of the spotlight as parliament approved the EUR 48bn austerity package aimed at averting a full-blown financial crisis.

B92

The same austerity cheerleaders told the Irish in 2008 to bail out their banks. In 2010 they told the Greeks that just one round of austerity would do the trick. In 2011, they tell Italy to cut investments in renewable energy and drastically reduce social spending, imposing a straitjacket on already cash-strapped local governments.

I wouldn't have expected any different from Berlusconi and his party.All our nations are run by an oligarchy of powerful financial and corporate interests linked with politicians and each other through private clubs, masonic lodges etc. They pull the strings of Government behind the scenes ensuring that their privileged lifestyle remains intact.

It's the same elites and organized crime which were allowed to remove their billions into the myriad of tax havens around the planet avoiding tax and permitting the use of the offshore bases to manipulate markets around the globe in a frenzy of speculation led by unregulated hedge funds. The loss of revenue has naturally led to mounting debts and the subprime crisis and national debts have just brought all the dirt, the cheating, the corruption, the greed and incompetence to the surface.

It makes no difference how many austerity budgets Berlusconi is going to pass.The ponzi euroland system is simply bust.Maybe Berlusconi can do us all a favour and call Josepf Ratzinger to give it its last rites.