[News] New elections in Italy (probably).

larus · May 7, 2018

Latest talks have failed and both main parties (from the last election) favour new elections. Not good news for a country which is struggling with 130% Debt to GDP and high levels of youth unemployment.

Both the leading parties are in favour or exceeding the rules of the Growth & Stabilty Pact too. Nothing could go wrong there could it? Nah :lol:

larus · May 10, 2018

Interesting developments now as Lega and Five Star Movement are in advanced negotiation to form a government.

Both sides want to break Fiscal rules and implement radical policies which won’t go down well in Brussels. Although they have reigned in their rhetoric on leaving the Euro.

This could get interesting and cause problems, as their GDP debt ratio is circa 130% currently.

Rodney Thomas · May 10, 2018

larus said:
Latest talks have failed and both main parties (from the last election) favour new elections. Not good news for a country which is struggling with 130% Debt to GDP and high levels of youth unemployment.

Both the leading parties are in favour or exceeding the rules of the Growth & Stabilty Pact too. Nothing could go wrong there could it? Nah

larus said:
Interesting developments now as Lega and Five Star Movement are in advanced negotiation to form a government.

Both sides want to break Fiscal rules and implement radical policies which won’t go down well in Brussels. Although they have reigned in their rhetoric on leaving the Euro.

This could get interesting and cause problems, as their GDP debt ratio is circa 130% currently.

Is there an echo in here?

Eeyore · May 10, 2018

They have an election every six months anyway, don't they ?

JC Footy Genius · May 10, 2018

It matters not what our democratically directly elected representatives say, the Eu project is sacrosanct and the pro-EU establishment /status quo must prevail at all costs .. see #teamEu/crush the poor justification apologists on NSC.

larus · May 10, 2018

JC Footy Genius said:
It matters not what our democratically directly elected representatives say, the Eu project is sacrosanct and the pro-EU establishment /status quo must prevail at all costs .. see #teamEu/crush the poor justification apologists on NSC.

#EndOfEu
#KeepTheFaith

The EU luvvies with no doubt say all the bad stuff around the EU is fake news. There’s a lot of dissatisfaction around Europe with the EU and many places have hardship. I know some people (maybe in Germany) won’t notice that as it’s alright there. :lol:

Questions · May 10, 2018

Italy’s politics is impossible to follow and comprehend at times. It’s a shame the late great Lord Bracknell isn’t still here to shed some light on it all. Bertie has given the green light to The League...... A new coalition awaits.

Questions · May 10, 2018

larus said:
Interesting developments now as Lega and Five Star Movement are in advanced negotiation to form a government.

Both sides want to break Fiscal rules and implement radical policies which won’t go down well in Brussels. Although they have reigned in their rhetoric on leaving the Euro.

This could get interesting and cause problems, as their GDP debt ratio is circa 130% currently.

Italy won’t leave the Euro ......they couldn’t, not in their position. What position is that ? Well, the position they are always in of course. I love Italy by the way.

Triggaaar · May 10, 2018

I heard today that Italy was now pretty expensive to go to for holiday (I actually heard it was the most expensive place in Europe, but that can't be right can it?) - that's not going to help their struggling economy.

Maybe they should do what Greece have done and devalue their currency.

Mental Lental · May 10, 2018

Triggaaar said:
I heard today that Italy was now pretty expensive to go to for holiday (I actually heard it was the most expensive place in Europe, but that can't be right can it?) - that's not going to help their struggling economy.

Maybe they should do what Greece have done and devalue their currency.

I'm going to Rome, Munich and Dublin for summer hols this year. Rome seems to be the cheaper of the three, especially with regards to hotels anyway. I nearly had a heart attack when I saw how expensive Dublin is these days.

Jim D · May 11, 2018

Triggaaar said:
I heard today that Italy was now pretty expensive to go to for holiday (I actually heard it was the most expensive place in Europe, but that can't be right can it?) - that's not going to help their struggling economy.

Maybe they should do what Greece have done and devalue their currency.

Unfortunately Greece isn't able to devalue as it's in the eurozone. It is now a very expensive country to visit. Unless you're German, the Euro is a terrible idea and will only worsen the lives of millions of people in the southern parts of Europe.

looney · May 11, 2018

Jim D said:
Unfortunately Greece isn't able to devalue as it's in the eurozone. It is now a very expensive country to visit. Unless you're German, the Euro is a terrible idea and will only worsen the lives of millions of people in the southern parts of Europe.

The single currency is a good idea in principle, the problem is those implementing it believe political will beats sound economics where the reverse is true, to an extent that is why we are leaving.

Deleted member 22389 · May 11, 2018

As soon as the Lire went everything became more expensive for them. Visiting family every year in Southern Italy, I can comfortably say at one point they had a better standard of living than we did. With their own currency they had control. Now that have no control over their money or their borders either all because of the EU. When I listen to the Pro EU bullshit it makes me sick.

Green Cross Code Man · May 11, 2018

looney said:
The single currency is a good idea in principle, the problem is those implementing it believe political will beats sound economics where the reverse is true, to an extent that is why we are leaving.

Yeah, the EU way.

'Let's impose strict financial criteria for membership of the Euro.'
'Oh dear, we want as many countries in the Euro as possible, so that things look unified and equal (can't have the Euro being dominated by Northern European countries.')
'I know, we will ignore the failings of the Southern European economies and let them join if they cook the books.'

What a great advert for the EU. I feel for the Greeks, Italians etc. Stuck to a currency controlled by Germany and unable to take the measures needed to put their own economies in order. Oh well, the EU regarded it's citizens as expendable. Funny how many supposed socialist posters on here fail to realise the irony of this situation.

Tom Bombadil · May 11, 2018

The euro's been about to collapse for what is it now 20 years nearly? Never mind, next year Rodney, next year.

Green Cross Code Man · May 11, 2018

Voroshilov said:
The euro's been about to collapse for what is it now 20 years nearly? Never mind, next year Rodney, next year.

The EU and the euro would have probably collapsed if the 'strict' rules applying to it's membership had been adhered to.

Btw, no sorrow for the poor, working class Greeks then?

Bakero · May 11, 2018

Triggaaar said:
I heard today that Italy was now pretty expensive to go to for holiday (I actually heard it was the most expensive place in Europe, but that can't be right can it?) -

That's not right at all. In most bars a bottle of beer is 2.50. A pizza is typically under 10 euros. Pasta between 7 and 14. A slap up meal with anti pasti, dessert, wine etc will set you back 25-35 euros a head.

Thunder Bolt · May 11, 2018

Green Cross Code Man said:
The EU and the euro would have probably collapsed if the 'strict' rules applying to it's membership had been adhered to.

Btw, no sorrow for the poor, working class Greeks then?

I have lots of sorrow for the Greeks. I have friends in Athens.
They were in lots of trouble before they joined the euro. Corruption is rife, and their economy was completely unsustainable. Early retirement for every public sector worker, with pensioners getting good pensions with nothing in the government coffers to pay it with.
It's been very painful, but they are slowly getting through it. There is still an attitude of tax evasion at every turn, because any tax causes resentment. For example, they don't have to pay the equivalent of council tax until their house is finished, so many houses and flats are left unfinished deliberately.

Blackadder · May 11, 2018

Bakero said:
That's not right at all. In most bars a bottle of beer is 2.50. A pizza is typically under 10 euros. Pasta between 7 and 14. A slap up meal with anti pasti, dessert, wine etc will set you back 25-35 euros a head.

I guess it depends where you go. we were actually in Rome when the Brexit referendum took place. I found it horrendously expensive but we were staying near the central station.

Conversely, I found Berlin, the capital of the economic power house, very reasonable.

Tom Bombadil · May 11, 2018

Green Cross Code Man said:
The EU and the euro would have probably collapsed if the 'strict' rules applying to it's membership had been adhered to.

Btw, no sorrow for the poor, working class Greeks then?

No you're right any minute now it 'll all go tits up . Any . Minute. Now.

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