Conte Gives EU 10 Days For Support - Or European Project Is Over

Discussion in 'Latest US & World News' started by Jeannette, Mar 28, 2020.

  1. Jeannette

    Jeannette Well-Known Member Past Donor

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    According to an article in Corriere.it, Italy is desperate, people have no money to shop and they fear a civil war. Conti needs help desperately. He needs billions at once to avert unrest and for this he has to break the wall of the Northern countries which refuse to share the price of the pandemic.

    Conte said that Italy's finances are in order, and what they want is unity and speed of action. They asked together with Spain and France, for 'coronabonds' to have the financial instruments to recover. Yet the EU refuses to even include a reference to 'coronabonds'. “If the EU is not supportive in this, then the European project is over,” this is why Conte gave the ultimatum for the EU to give them at least some sign of support.

    "...The premier has read the hundreds of desperate appeals that rain on his Facebook page, people who have no money to shop and fear the “civil war”. Conte knows well that many billions at once are needed to avert unrest and to do this he needs to break the wall of the Northern countries which refuse to share the price of the pandemic..."

    "...The Prime Minister has claimed that Italy has “the credentials for public finance”, because 2019 ended with a deficit / GDP ratio at 1.6 and not at 2.2, as planned. Conte’s reasoning is that this is not a question of facing the isolated crisis of a country that has not done homework, but of reacting to an «unpredictable and symmetrical shock of epochal importance», which affects all of Europe..."

    "...Conte’s approach seems to find support also in Mario Draghi, the former president of the ECB, who has recently stated the need to go “all-in”: act immediately, enter liquidity in the system without worrying about the increase in public debt, because the recession will be deep and is likely to be the grave of Europe..."

    https://www.fort-russ.com/2020/03/i...s-europe-must-be-united-or-it-does-not-exist/
     
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  2. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Italy is the tip of the iceberg, get ready for an avalanche of hungry people & civil unrest.

    The sooner they rid themselves of the corrupt EU the better, it's the corruption of Globalism and useless government of Liberalism that brought us to this point of destruction.
     
  3. squidward

    squidward Well-Known Member

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    The EU is a banker kingdom
     
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  4. scarlet witch

    scarlet witch Well-Known Member Past Donor

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  5. squidward

    squidward Well-Known Member

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  6. scarlet witch

    scarlet witch Well-Known Member Past Donor

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    Yes that's true, & same goes for the Media, Charities & Non Profits, especially during the last 30 years of Liberalism & Globalism, the most corrupt period in Human history.

    The worst among these are the Hedgefunds, and no coincidence that hedgefund owners control the media and the Non profits that stir unrest.... all so they can fund the politicians that provide them with their keys to said kingdom.
     
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  7. squidward

    squidward Well-Known Member

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    All made possible by central banks and the loss of sound money
     
  8. notme

    notme Well-Known Member

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    Can you prove that there is this so called corruption going on?
    As for Italy: it's debt is worrisome to the EU, as far as I can tell. It aint in a good shape.
    The EU has said this often enough to Italy.
    And the EU is not there for bailouts for all the just in cases. That's a bit weird.


    And there is plenty of food. Just people scared to go get it.
     
    Last edited: Mar 30, 2020
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  9. Caligula

    Caligula Well-Known Member

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    It's first and foremost political rhetoric as Conti is unhappy that esp. Germany, Austria, and the Netherlands are not crazy about the idea of joint European debts. It would mean that German, Austrian, and Dutch taxpayers would have to pay probably billions because Italy couldn't gain control of its corruption and its fiscal politics in the past, and, at the same time, said countries wouldn't have any say in Rome's fiscial politics regarding said money. The current crisis can plunge the Dutch economy into a serious depression with GDP declining by up to 7% and more, experts estimate that corona could cost Germany's economy up to 700 billion Euros, and Austria expects a decline of its GDP of ~5 % and has ordered a lockdown almost as severe as Italy's.
    https://www.dutchnews.nl/news/2020/...-major-impact-recession-into-2021-likely-cpb/
    https://www.faz.net/aktuell/wirtsch...lliarden-euro-wohlstandsverlust-16692391.html
    https://www.noen.at/niederoesterrei...wifo-oesterreich-corona-coronavirus-198078435


    No wonder they are not too keen on giving billions to someone who has shown their financial incompetence a bit too often. Unfortunately, Italy is the most corrupt country in the EU, second only to Greece, there are enough reliable reports out there, and Italy's corruption is an open secret and has been going on for decades. An absurdly ineffective bureaucracy which inter alia has prevented the economy from growing and the inability to initiate political reforms have been some of the key problems in Rome for many years.
    Conti is putting up political pressure which is understandable, every country is now allowed to go into debt as much as they need (normally there's a limit agreed upon by every EU-member state, but not anymore). We'll see what happens next week Tuesday (that would be ten days).
     
  10. alexa

    alexa Well-Known Member Past Donor

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    I heard someone from Italy talking about this a few days ago and how they expect Germany to get Holland to do its dirty work and be the one who downs the project.

    What I think. This is a time like no other. Italy needs help. If the EU does not stand round Italy in its hour of need, I think it probably is over - except possibly for Western Europe and possibly that is the intention. Whatever problems Italy may have, however it may have acted in the past, it needs help now. Issues can be sorted out later.

    I think we are all expecting our economies to go into recession harder than in 2008. We have in reality just been putting a sticking plaster on it while neo liberalism gets everything privatised before the final crunch which seems to be coming with covid-19
     
  11. modernpaladin

    modernpaladin Well-Known Member Past Donor

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    The EU is a collectivist entity. Those elderly, unhealthy Cvirus victims need to just hurry up and die so the polit bureau can take em off the books already.

    They arent gonna give em **** because thats how collectivism works: sacrifice the individual.
     
    Last edited: Mar 30, 2020
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  12. drluggit

    drluggit Well-Known Member

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    Once again European tribalism is alive and kicking. What will happen as the tribes decide they don't want to participate in each others crisis any more?
     
  13. squidward

    squidward Well-Known Member

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    The Complete Lives scoring system, courtesy of Ezekiel Emanuel.
    Obama and the ACA are big fans
     
  14. Caligula

    Caligula Well-Known Member

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    The question is not if Italy will receive help, there is no doubt that Italy will receive help (based on all that I've read) as nobody involved in this question denies this and is willing to help. The debate is how and in what form. This is where Conte wants long-term joint debts whereas others have put other alternatives on the table.
     
  15. alexa

    alexa Well-Known Member Past Donor

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    I think I heard them talking about wanting bonds. Would that be right?
     
  16. Moi621

    Moi621 Well-Known Member Past Donor

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  17. gnoib

    gnoib Well-Known Member

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    Nobody in Europe/EU will let Italy go down the drain.
    It will get all the help.
    The question is how that help will be done.
    It seams to me that Italy wants to unload without reforms, so it can continue in its old miserable failing ways.
     
  18. alexa

    alexa Well-Known Member Past Donor

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    I know Yanis Varoufakis really believes that Germany did a fast one on the Greeks managing to get them to pay for Germany and other states playing games with banks.

    I think I agree with the guy who was speaking the other night that if Italy does not get the help it needs it well be leaving and saying it will only get the help it needs if it goes by austerity is not being particularly honest as austerity leads to more poverty not a way out.

    I suspect Western Europe is wanting free of those who are not so rich in the unknown days ahead - everyone says it will never be the same.
     
  19. Moi621

    Moi621 Well-Known Member Past Donor

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    Failing ways:
    Italian fisheries now open to German fishery destroying, over harvesting, factory ships.
    Banned from selling their agricultural goods to Russia by less agriculturally dependent nations.


    The E.U. is an economic rape and pillage of Southern Europe.
    What part do I have incorrect.
    Yes, I agree Italy like so many Latin nations has a history of poor gov't management.
    But the scenario today is NOT the same.


    SUPPORT NATIONALISM a nation that supports its' citizens above globalism.
    Sadly it is associated with Right Wing Extremist
    but, doesn't have to be so.



    Moi :oldman:






    no_canada.jpg
     
  20. alexa

    alexa Well-Known Member Past Donor

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    I'd put it to neo liberalism. Guess the two live together. The EU was doing very well till they bought that and particularly since 2008 when that dead economic system is being held together with a band aid moving further and further away from the needs of the people.
    The history of Europe and extreme Nationalism or even just nationalism has been that the moans turn into bombs and of course due to the demands of the US Germany has once again a very strong military.

    and then of course when this is over we still have global warning to deal with. Times are changing.
     
  21. Caligula

    Caligula Well-Known Member

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    At the moment it seems, Italy, Spain, but also France demand so-called Corona-Bonds (or Euro-Bonds), the others prefer so-called Euro Rescue Funds. Conte now wants new suggestions handed in by the presidents of the five euro institutions within the next ten days.


    Do you have reliable sources for that claim?
    .
     
  22. Poohbear

    Poohbear Well-Known Member Past Donor

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    Hedge Funds control the media?
    If this is America then about 98% of the media is anti-Republican.
    Do the Hedge Funds belong to Democrats?
     
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  23. Moi621

    Moi621 Well-Known Member Past Donor

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    Do YOU have reliable sources what I uploaded is "untrue"?
     
  24. alexa

    alexa Well-Known Member Past Donor

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    I am not sure there is much difference in the parties in the US. In the UK what has been going on has been described as a battle between the Hedge Funds and the Banks. The Hedge Funds supported Boris and Brexit.
     
  25. gnoib

    gnoib Well-Known Member

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    Yanis is a frisking idiot, with all his CTs about Germany. The responsibility for for Greece's problem lays within Greece and wanted to divert it.
    Once he was gone Greece started to get on the right track.
    Same case with Italy, they have to get responsible. Italy is the 4th largest economy in the EU and should not have those problems.

    Now everybody is in trouble and will have a serious recession. The EU will help each other, the question is how.
     

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