Italy is in the midst of a constitutional crises.
While the whole thing is convoluted, the top parties are at odds with the President who is supposed to be neutral. The President asked for a new referendum and he has named an interim head of parliament. He is apparently dancing to the the EU and its meddling banks.
The referendum, which was initially scheduled for the later in the Fall, is now (given the chaos) rescheduled for July and it will clearly be seen as a referendum for Italy's escape from the Euro. Financial markets are reeling
[theguardian.com]
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Feel free to reply to any comment by clicking the "Reply" button.The EU has always shown more intelligence, rationality, fiscal sanity, and moral authority than has Italian politics and political figures. .
wordywalt
Level 9
May 29, 2018
0
cava:
For sure but that does not matter, does it? The Italians have a point, the EU has no business meddling in their politics. If Italy wants out the EU they will leave, and then the UK leaves and then other EU dominoes will fall as they may.
M5s is a Populist Party, one of its rules is that no one who has been convicted of a crime can run on their party ticket. Corruption is a real part of Italian society and politics.
@cava Italy voluntarily agreed to join the EU and to abide by its joint decisions. No one outside of Italy forced Italy to make that decision.. And, yes, because of its corruption and irrational populism, Italy is having difficulty doing in living up to its commitments.
It me, Italy withdrawing now is the equivalent of the American south Seceding from the United States to bring on the Civil War.
I think a strong argument can be made that many of the problems that Europe is facing is due to its single currency, which is unable to adjust it self to the various economic conditions in the various EU countries.
"A single currency entails a fixed exchange rate among the countries, and a single interest rate. Even if these are set to reflect the circumstances in the majority of member countries, given the economic diversity, there needs to be an array of institutions that can help those nations for which the policies are not well suited. Europe failed to create these institutions." Joseph E. Stiglitz
cava
Level 7
May 29, 2018
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Italy wanted to financially support its ailing steel industry to save Italian jobs. The EU blocked them.
The EU is fucking toxic.
(The Guardian loves the neoliberal EU.)
Ellatynemouth
Level 8
May 29, 2018
1
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