Back in November 2011, when the ECB did its damnedest to make sure Silvio Berlusconi resigned and never came back (it succeeded in the first, but is failing in the second as the Berlusconi block is rapidly rising in the polls two weeks ahead of the Italian elections and is now one margin of error away from the frontrunning Democratic Party) the central bank knew the Bunga Bunga PM would [...]
Silvio Berlusconi was not exactly a welcome guest when he turned up in Brussels for the pre-summit gathering of Europe’s centre-right leaders.
Some worried about being photographed next to Mr Bunga-Bunga.
Others muttered about him being a “destructive force” after he had announced his “return to the field”, prompting the technocratic prime minister, Mario Monti, to announce his resignation.
Across Europe there is worry that Mr Berlusconi will upset the fragile financial calm [...]
The US cabal justs wants ongoing can kicking, in a financial world they have created and to which Euro banks, sucked in since 10 years, are surrogate. Now the EUro governments are surrogate too due to sovereign risk; Merkel being the only one who has the “cojones” to resist. Will the global debt tsunami pull her into the vortex? I think she prefers the system go to BREAK rather than [...]
Three metaphors describe Europe: drowning in debt, circular firing squad and trying to fool the money gods with an inept game of 3-card monte.
The world’s major economies are drowning in debt–Europe, the U.S., Japan, China. We all know the U.S. has tried to save its drowning economy by bailing out the parasite which is dragging it to Davy Jones Locker–the banking/financial sector– and by borrowing and squandering $6 trillion in [...]
• Silvio Berlusconi to step down, Italian press reports
• Italian bond yields hit record highs on recession fears
• George Papandreou agrees to step down as Greek PM
• Greece to form unity govt, hold February election
• Eurozone finance ministers meet in Brussels today
• G20 leaders ‘could meet again before Christmas’
The European Commission’s assertion that it is up to Greece whether it stays in the euro has broken one of the last taboos [...]
Following electoral upheavals in Portugal, Germany and Finland, it is time to add Italy to the list, after Silvio Berlusconi’s center-right coalition appears to have lost the critical election in Italy’s financial capital, Milan, which also happens to be the center of the Bunga Bunga man’s business and media empire. And while the mayoral election is merely symbolic for now, its outcome has substantial [...]