Nigel Farage Blasts Communist Europe And Leaders ‘Living In Noddy-Land’ (Video)

Farage Blasts Communist Europe And Leaders “Living In Noddy-Land” (ZeroHedge, Aug 15, 2012):

Nigel Farage, looking tanned and refreshed, is back and as he tells FOX Business in this brief clip “nothing has changed” from his views of Europe as the Titanic and its unelected officials dragging it down to the depths of the ocean. Citing Mario Monti specifically with his concerns over allowing politicians to ‘decide’ anything he notes the leader’s demeanor is “We must not let democracy interfere with our great Grand Project.” With European GDP negative, and group-hugs all around as Europeans are herded towards a European social state, Farage analogizes that “we are living in Noddyland” where economic reality and day-to-day life are as distant as they could be as he warns that they are becoming part of something that is increasingly resembling Communism. He dismisses the growing belief that “the state and government creates jobs” noting that “it doesn’t, it destroys them!” With two wrongs (Spain ad Italy) not making a right; Farage is clear that breaking up the EU is necessary now and it is critical to recognize that “you don’t get something for nothing” as Europe is increasingly de-industrialized.


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Quarto Reich: Italy Goes ‘There’ Again

Quarto Reich: Italy Goes “There” Again (ZeroHedge, Aug 6, 2012):

Just because Italy’s 2 Year bond yield has plunged, bringing its cost of short term funding to manageable levels, if only for a day or two, it is suddenly “obvious” that it will not need Germany’s goodwill ever again. Sure enough…

The Daily Mail explains:

An Italian newspaper owned by former prime minister Silvio Berlusconi has caused controversy by printing a front page headline which said ‘Fourth Reich’ above a picture of German chancellor Angela Merkel.

Read moreQuarto Reich: Italy Goes ‘There’ Again

Sicily Is San Bernardino: With First Italian Region On Verge Of Default, Montius Pilate Washes His Hands

Sicily Is San Bernardino: With First Italian Region On Verge Of Default, Montius Pilate Washes His Hands (ZeroHedge, July 17, 2012):

Buried deep in the newsflow from Ben Bernanke is the following piece of very critical news for anyone who is still long Italian bonds: namely that Italy may not be Spain, or Uganda, but Sicily is about to become San Bernardino. From Reuters:  “Italian Prime Minister Mario Monti said on Tuesday he expected the governor of Sicily to resign following a growing financial crisis that has pushed the autonomous region close to default.” Because the resignation of Sicily Governor Lombardo will somehow allow all those who care about the fundamentals of Italy to stick their heads in the sand… at least until Sicily is followed by Calabria, Campania, Lazio, Abruzzo, Tuscany, Lombardy, Umbria, Liguria, Veneto and so on. At least the governors of those respective provinces now have an advance warning what the endgame is.

More:

Monti said in a statement there were “grave concerns” that the island could default and he said he had written to the governor Raffaele Lombardo seeking confirmation that he would resign by the end of the month.

“The solutions which could be considered that involve action on the part of the government cannot fail to take account of the situation of the administration at regional level but rather have to be matched to this so as to deploy the most efficient and appropriate instruments,” the statement said.

As to how Italy will actually fund the bailout its insolvent regions, fear not: ze Germans will be delighted to step in and make it rain cash courtesy of the ESM, which may or may not be active one day.

Bunga Is Back: Berlusconi To Run In 2013

Bunga Is Back: Berlusconi To Run In 2013 (ZeroHedge, July 11, 2012):

Back in November 2011, when Silvio was forced out of his PM position with a combination of plunging Italian bonds and strong globalist pressure in an attempt to restore confidence in the Italian economy and administration, and was replaced with a Goldman-affiliated technocrat, we said that it is only a matter of time before Monti fails in his task of turning the Italian economy around, and revisionist power vacuum forces put Silvio right back in his throne. Sure enough, Corriere writes that the man whoe made the term Bunga Bunga legendary may run for premier next year. Specifically, the ex-prime minister may seek top job in a “ticket” together with his party’s current leader Angelino Alfano, quoting him as saying that this is “A choice that I didn’t want to make.” Berlusconi’s PDL party could garner 30% of vote in next election if the ex-premier seeks top job, Corriere says, without elaborating. Of course, what guaranteed that he would run was his statement last year that he would not run in the next election, making this outcome a foregone conclusion. And the funny thing is that he just may win.

From Corriere:

He has spent the last few weeks to study the surveys, to analyze the scenarios for the vote in 2013, listening to the PDL leaders, entrepreneurs and international representatives. But ultimately the decision is made: be standing for re-election as premier.

The role of noble father does not heat his constituents who ask a more direct engagement, the engagement she had ruled at the time of the investiture of Angelino Alfano as secretary of the PDL. The latest polls, arrived on his desk, some data have shown that, according to Knight, one can not ignore. Three scenarios submitted to respondents: a PDL without Berlusconi would not reach 10% of the votes and the nomination of the premiership Alfano, Berlusconi in the field as party chairman, would lead to a result around 18%. If, however, Berlusconi was still in the running for the presidency of the Council, in a ticket with Alfano and a team of young executives, the polls would arrive, according to surveys, including a 30%. A result that might not be enough to win the leadership of the country but would give the Knight and his party a decisive role in the next term, especially if you come to a coalition government called upon to continue the path of fiscal consolidation and exit from economic crisis.

Read moreBunga Is Back: Berlusconi To Run In 2013

Spain’s Not Getting a Bailout… Neither is Italy… It’s the END GAME Folks

Spain’s Not Getting a Bailout… Neither is Italy… It’s the END GAME Folks (ZeroHedge, July 7, 2012):

Spain got a “bailout” or so the media claimed. Because I cannot find any entity in Europe with the funds to actually bailout Spain (the EUFN is tapped out, the ESM has major political issues, and Germany is risking a credit downgrade and insolvency based on its backdoor EU props).

As one would expect in this situation, things are rapidly going into hyper-drive in Spain. The weekend before last the country implemented capital controls including

  • A minimum fine of  €10,000 for taxpayers who do not report their foreign accounts.
  • Secondary fines of  €5,000 for each additional account
  • No cash transactions greater than €2,500
  • Cash transaction restrictions apply to individuals and businesses

Does this sound like the actions of an economy with a sound banking system?

On a related note, Italy is once again back on the brink: in the last 2 weeks Italy’s Prime Minister Mario Monti has said that the country is “flirting with economic disaster… [and] in a crisis.” He, like Spain’s PM Rajoy, has pushed for the ESM to buy sovereign bonds. He’s also asked the ECB to implement a mechanism through which it would buy Italian sovereign bonds whenever the spread between them and German bunds grows too large (a type of bailout).

Indeed, things are so desperate that he invited German Chancellor Angela Merkel, French President Francois Hollande, and Spanish Prime Minister Mariano Rajoy to an emergency meeting in Rome over the weekend. His goal was to convince EU leaders to allow Italy to receive funding directly from the EFSF and ESM.

The ECB and Germany have already rebuked this idea:

Read moreSpain’s Not Getting a Bailout… Neither is Italy… It’s the END GAME Folks

The Full ‘Three-Days-To-Eurocalypse’ George Soros Interview (Video)

The Full “Three-Days-To-Eurocalypse” Soros Interview (ZeroHedge, June 25, 2012):

In a no-holds-barred interview with Bloomberg TV’s Francine Lacqua, the increasingly droopy-faced George Soros remains as sprite-minded as ever in his clarifying thoughts on Europe. His diagnosis is spot on: “Basically there is an interrelated problem of the banking system and the excessive risk premium on sovereign debt – they are Siamese twins, tied together and you have to tackle both” and summarizes the forthcoming Summit ‘fiasco’ as fatal if the fiscal disagreements are not resolved (and as of this afternoon, we know Germany’s constant position on this). His solution, however, is unlikely to prove tenable in the short-term as he notes “Merkel has emerged as a strong leader”, but “unfortunately, she has been leading Europe in the wrong direction”. His extensive interview covers what Europe needs, the Bund bubble, GRexit, post-summit contagion, and Mario Monti’s impotence.

Read moreThe Full ‘Three-Days-To-Eurocalypse’ George Soros Interview (Video)

Italy’s PM Mario Monti: We Have A Week To Save The Eurozone

International Advisor Of Goldman Sachs, Chairman Of The European Branch Of The Trilateral Commission And Bilderberg Member Mario Monti:

We have a week to save the eurozone

“The Italian leader is to hold talks with Bilderberg Chancellor Angela Merkel of Germany, the Bilderberg French president, François Hollande, and Spain’s prime minister, Mariano Rajoy, in the hope that the single currency’s big four countries can pave the way for a breakthrough at next week’s meeting.

Problem, reaction, solution … coming your way.


Italian prime minister warns that there is no room for failure in talks between single currency’s big four countries


Italian prime minister Mario Monti has spoken of the potentially disastrous consequences of the collapse of the eurozone. Photograph: Edgard Garrido/Reuters

Mario Monti: we have a week to save the eurozone (Guardian, June 22, 2012):

Italy’s prime minister, Mario Monti, has warned of the apocalyptic consequences of failure at next week’s summit of EU leaders, outlining a potential death spiral that could threaten the political and economic future of Europe.

The Italian leader is to hold talks with Chancellor Angela Merkel of Germany, the French president, François Hollande, and Spain’s prime minister, Mariano Rajoy, in the hope that the single currency’s big four countries can pave the way for a breakthrough at next week’s meeting.

Speaking to the Guardian and a group of leading European newspapers, Monti said that, without a successful outcome at the summit, “there would be progressively greater speculative attacks on individual countries, with harassment of the weaker countries”. The attacks would be focused not only on those who had failed to respect EU guidelines, but also on those like Italy, which he said had abided by the rules “but which carry with them from the past a high debt”.

Monti warned: “A large part of Europe would find itself having to continue to put up with very high interest rates that would then impact on the states and also indirectly on firms. This is the direct opposite of what is needed for economic growth.”

Read moreItaly’s PM Mario Monti: We Have A Week To Save The Eurozone

International Advisor Of Goldman Sachs, Chairman Of The European Branch Of The Trilateral Commission And Bilderberg Member Mario Monti Goes M.A.D.; Sees ‘Permanent Risk Of Contagion In Euro-Zone’

Elite puppet Mario Monti is a financial terrorist.


Monti Goes M.A.D.; Sees “Permanent Risk Of Contagion In Euro-Zone” (ZeroHedge, June 8, 2012):

We can only assume that the technocrat-in-chief of Italy, Mario Monti, has read the second chapter of ‘how to be a European leader’ as he switches from Juncker’s “When it’s bad, you have to lie” mantra to “Maybe the real truth will scare ’em into it” as he pushes the spending of other people’s money and a growth agenda (which of course will solve all the insolvency problems). As Bloomberg reports, the blackmail negotiations threats continue:

  • *MONTI SAYS THERE IS PERMANENT RISK OF CONTAGION IN EURO ZONE
  • *MONTI SAYS SPAIN BEING DEALT WITH PROMPTLY, ADEQUATELY
  • *MONTI SAYS EU NEEDS GROWTH POLICIES QUICKLY TO STOP CONTAGION
  • *MONTI SAYS MARKETS DEMANDING EUROPEAN GROWTH

Perhaps he just noticed the underperformance of Italian bonds the last day or two and just how this will rapidly spill back into his back-yard.

Is The ECB Masking Accelerating Deposit Flight In Italy And Spain? — Frontrunning: March 12, 2012

Is The ECB Masking Accelerating Deposit Flight In Italy And Spain? (ZeroHedge, Mar 12, 2012)

Frontrunning: March 12 (ZeroHedge, Mar 12, 2012):

  • Greek Bailout Payment Set to Be Approved by Euro Ministers After Debt Deal (Bloomberg)
  • China Trade Deficit Spurs Concern (WSJ)
  • Sarkozy Makes Populist Push For Re-Election (FT)
  • ECB Calls for Tougher Rules on Budgets (FT)
  • As Fed Officials Prepare to Meet, They Await Clearer Economic Signals (NYT)
  • PBOC Zhou: In Theory ‘Lots Of Room’ For Further RRR Cuts (WSJ)
  • Latest Stress Tests Are Expected to Show Progress at Most Banks (NYT)
  • Monti Eyes Labor Plan Amid Jobless Youth, Trapped Firemen (Bloomberg)

Italy On the Verge Of A Full Revolt

See also:

EU Finance Ministers Push Through ESM Treaty in Fishy Fly-by-Night Move (RED ALERT TO EVERYBODY INTERESTED IN THE ESM: THERE IS NO CURRENT VERSION OF THE ESM TREATY AVAILABLE!!!)

Flashback:

Chairman Of The European Branch Of The Trilateral Commission And Bilderberg Member Mario Monti Member Is Italy’s New Prime Minister


Italy On the Verge of a Full Revolt (The Dollar Vigilante, Jan. 25, 2012):

[Editor’s Note: The following is from TDV’s Correspondent in Italy, Alexander Jousse]

This past week has been a very turbulent time for Italy.  And it wasn’t just the grounding of the Concordia cruise ship by a playboy captain; but the grounding of the country by Euro-technocrat usurper Darth Monti, trying to impress his Keynesian buddies with his latest attempts to ‘Save Italy’!

This week saw the launch of a popular uprising in Sicily, by a group known as the ‘Movimento dei Forconi’ or ‘Pitchfork Movement’. This is not an uprising of self absorbed youth who want more government handouts; but of producers who are being pushed into poverty by government taxes and regulation. The organizers are middle aged and older; this is significant, as most power and wealth is held by this generation and they have now drawn a line in the sand.

On the 16th of January these protesters began “Operazione Vespri Siciliani”, a blockade  of the Island of Sicily. Within two days the transportation of all goods was stopped. Over the next week, nothing entered or exited Sicily.  This was no mean feat given that Sicily is not a small Island; it has a population of over five million people and a surface area of 25,711 km2.

These are some of their demands:

  • The arrest of all corrupt politicians.
  • To reduce the number of parliamentarians
  • To remove the provincial bureaucracy, as most of these politicians have been there for over forty years.
  • To drastically cut the salaries and privileges of parliamentarians and senators
  • To restrict politicians two only two terms in office

Read moreItaly On the Verge Of A Full Revolt