As Thousands Of Italians March Against Austerity On "No Monti Day", Berlusconi Threatens To Scuttle Monti Government

Tyler Durden's picture


First, it was Greece who failed to stick with the "do not rock the boat until the US election" script so meticulously crafted by Tim Geithner, and now it is Italy's turn as Europe threatens to come unhinged precisely in the week when complete peace and quiet is needed to avoid deflecting attention from the peak season of the US presidential theater. As Reuters reports, "Tens of thousands of people marched through Rome in a "No Monti Day" on Saturday, some throwing eggs and spraying graffiti to protest against austerity measures introduced by Prime Minister Mario Monti's government. Appointed in November when Italy risked being sucked into the euro zone debt crisis, Monti has pushed through painful austerity measures to cut the country's massive debt, including tax hikes, spending cuts and a pension overhaul. "We are here against Monti and his politics, the same politics as all over Europe, that brought Greece to its knees and that are destroying half of Europe, public schools, health care," said demonstrator Giorgio Cremaschi... In another demonstration in northern Italy, a small group of protesters scuffled with police near where Monti was addressing a rally on the theme of family values."

So who gets to capitalize on the latest bout of surging discontent with the Goldman appointed technocrat? Why the same man who yesterday was sentenced to several years in jail (a sentence that will be never carried out of course), Silvio Berlusconi, and whom the ECB singlehandedly took down nearly a year ago, when it sent Italian bond yields to record highs: "The center-right bloc will decide "in the next few days" whether to withdraw confidence for Prime Minister Mario Monti in parliament or support him until elections in April, former Prime Minister Silvio Berlusconi said on Saturday. Monti's government of non-elected technocrats is backed by the center-left, the center and the center-right. It would have to resign if it lost the support of the entire center-right."

In other words, the man that many left for politically dead in the always entertaining Italian political scene, is about to come back with a stunning vengeance, and may even reclaim the throne that Goldman repossessed a year earlier.

From Reuters:

"We have to recognize the fact that the initiative of this government is a continuation of a spiral of recession for our economy," Berlusconi told a news conference in northern Italy a day after he was convicted and sentenced to four years for tax fraud related to his Mediaset media empire.


"Together with my collaborators we will decide in the next few days whether it is better to immediately withdraw our confidence in this government or keep it, given the elections that are scheduled," he said.


The Monti government of non-elected technocrats is supported by the centre-left, the centre-right and the centre. It would lose its majority and have to resign if the entire centre-right, including Berlusconi's PDL party, withdrew support.


Unemployment in Italy has risen to 10.7 percent, its highest level since monthly records began in 2004, and unions are locked in disputes with companies over plant closures and layoffs.


Berlusconi, a 76-year-old billionaire media magnate, gave no precise timing for when the decision on whether to keep supporting Monti or not would be made. An indication of the centre-right's strength will come on Sunday when Sicilians go to the polls to elect a new regional government.

Always one to have an immaculate sense of the public's pulse of discontent (if not so much contentment), Berlusconi continued:

Berlusconi also condemned the Monti government for following what he called the "hegemonistic" economic policies of Germany and accused German Chancellor Angela Merkel and former French President Nicolas Sarkozy of "trying to assassinate my international political credibility" when he was prime minister.


Berlusconi was convicted on Friday of inflating prices paid for television rights via offshore companies and skimming off money to create illegal slush funds.


The court imposed a five-year ban on running for political office but since the sentence does not come into effect until all appeals are exhausted, Berlusconi can run for parliament in the next national elections in April.


In an interview earlier on Saturday he had suggested that he might not leave front-line politics as expected, although he later confirmed that he would not be a candidate for prime minister. He did not rule out running for parliament.


The former prime minister, who was convicted three times during the 1990s in the first degree before being cleared by higher courts, has the right to appeal the ruling two more times before the sentence becomes definitive.


He has often accused magistrates of waging a political war against him. "Ours is not a democracy but a dictatorship of the magistrature," he said, listing the amount of time and money he has had to spend to defend himself in trials he says are all based on unfounded accusations.

Then again, this is the same man who said he feels "obliged to stay in politics to reform Italy's justice system" the day after his conviction:

He announced what sounded like a political platform to undo many of Monti's reforms. And he warned that his People of Freedom party would be meeting in the coming days to decide whether to withdraw support from Monti's government and force early elections.


He said it would do so to end the "recessive spiral" that Monti's reforms had brought about.


The rambling speech got personal at times, such as when he denounced a now-famous smirk about him shared by German Chancellor Angela Merkel and France's then-President Nicolas Sarkozy, which he termed an "attempted assassination of my international credibility."


Berlusconi had wavered about his political future in the year since he was forced from office amid sex scandals and his inability to reassure financial markets that he could push through the economic reforms needed to ward off a debt crisis.

At the end of the day, for better or worse, it seems that the Italian people may once again be allowed to chose their elected leaders, which regardless of the outcome, is what democracy is truly about, and we are confident that even with Berlusconi back on top, the local electorate would be happier than being controlled by a proxy muppet of the world's most insidious investment banks-cum-hedge funds, whose only goal has always been a simple one: the enrich its shareholders, its partners, and the member of the global ruling oligarchy even more at the expense of the disappearing middle class.

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Sat, 10/27/2012 - 14:57 | 2924122 Dick Darlington
Dick Darlington's picture

And naturally Spain is no different. France24 writes:

Spanish police officers take part in a demonstration against the Spanish government's latest austerity measures in Madrid on October 27. Hundreds of police officer gathered in front of the interior ministry to express their anger against the austerity measures and benefit cuts.

Sat, 10/27/2012 - 15:00 | 2924129 Silver Bug
Silver Bug's picture

Don't worry there will be another 500 bailouts to calm any and all situations.

Sat, 10/27/2012 - 15:13 | 2924150 kaiserhoff
kaiserhoff's picture

Cut them 5%, they squeal like pigs.

Cut them 50%, they squeal like pigs.

See the difference?

Sat, 10/27/2012 - 19:00 | 2924520 Incubus
Incubus's picture

domesticated peoples are mentally incapable of rising against an oppressive government.  Your average consumerist won't fight, and will believe in a better possible outcome until he or she is face down in the dirt in some mass grave.


Only men & women with something greater than themselves to fight for will stand up;  you know who you are, and you bide your time, waiting for when the theatrics are over with and it is time to correct the course of the world.


As they have conquered entire populations through psychological means, so they will be freed.



Sat, 10/27/2012 - 21:33 | 2924707 koncaswatch
koncaswatch's picture

Greater than ourselves: our progeny's future.

While we bide our time: we hope we have the smarts to recognize the moment, and the guts to take required action.

Sat, 10/27/2012 - 15:24 | 2924171 zilverreiger
zilverreiger's picture

spain coverage     3th day of protest this week

Sat, 10/27/2012 - 15:42 | 2924187 alstry
alstry's picture


It is amazing how people fail to recognize that sovereign bankruptcy is a JOINT AND SEVERAL ISSUE.

When sovereigns go to war, everyone within the sovereign goes to war.....when sovereigns go broke, everything and everyone within the sovereign is broke.

When the world is bankrupt, trying to figure out who has control is truly a ZERO HEDGE....

Gentlepeople, never forget the first rule about fightclub in the Udder World, a place we all milk off......and the fight is about to begin.

Sat, 10/27/2012 - 14:57 | 2924123 dogbreath
dogbreath's picture

Where is Ciccioina when you need her.

Sat, 10/27/2012 - 18:05 | 2924454 flacon
flacon's picture

Here she is topless...


Oh shit, that's Hillary topless. My bad! 


Those things look more like dinosaur eggs than mammary glands.

Sat, 10/27/2012 - 14:57 | 2924125 no taste
no taste's picture

Congratulations to the Italians for wanting to garbage their criminals.  Now if only we could do the same in America.

Sat, 10/27/2012 - 15:05 | 2924138 q99x2
q99x2's picture

I vote for the Berlusconi mafia to imprison the Toika mafia. Long live the bunga bunga.

Sat, 10/27/2012 - 15:22 | 2924166 dariomilano
dariomilano's picture

vote for Beppe Grillo instead!!

Sat, 10/27/2012 - 17:25 | 2924379 Coke and Hookers
Coke and Hookers's picture

Berlusconi is the NWO enemy numero uno. He must be purged/jailed/disgraced.

Sat, 10/27/2012 - 15:06 | 2924140 Piranhanoia
Piranhanoia's picture

Monti was at a "Family Values" rally.  Ring kissing, Bishop blowing club med political theater has to be pretty entertaining. No matter how far you go you get the same crap.  We have a whole bunch of ladies in a midwestern state hoping that they will get raped by their elected representative soon because he promised.  "I will rape all of you that need rapin' cause I'ma doing god's work".

Self induced comas mandatory in all swing states.

Sat, 10/27/2012 - 15:08 | 2924142 Dick Darlington
Dick Darlington's picture

Interesting local elections tomorrow in Sicily. Let's see if the Grillo's "5 star movement" will cash in. It has been polling as the second largest party in Italy for some time now.  His agenda includes defaulting on the govt debt, exiting euro and some other cool stuff.

Sat, 10/27/2012 - 15:13 | 2924149 debtor of last ...
debtor of last resort's picture

The last alinea, wowww! Go ZH, go Berlusconi!

Sat, 10/27/2012 - 15:59 | 2924220 francis_sawyer
francis_sawyer's picture

What I love most about this thread is that a bunch of peeps are just popping off about shit that they don't know shit about...

&, of course, I deserve, "MILLE 'junks'", for stating the obvious... again...

Sun, 10/28/2012 - 02:55 | 2924905 debtor of last ...
debtor of last resort's picture

Glad you agree with me. All options to bring down the Brussels freakshow are fine with me. One way or another. It's not sustainable, so let's short the path to a new system. Berlu is the man to do that. With guys like Monti, Europe will be a debt serfs union for the next 20 years.

Sat, 10/27/2012 - 15:17 | 2924153 Yen Cross
Yen Cross's picture

  The guy is going to the can, and keeps kicking it right to the "' CHOPPING /BLOCK!

   This post; Thank you Tyler, just exemplifies the corruption, and deceit that has polluted Europe far longer than the ""European Union", experiment.


Sat, 10/27/2012 - 15:15 | 2924154 Segestan
Segestan's picture

Silvio is anti-communist. Go Silvio.

Sat, 10/27/2012 - 15:19 | 2924160 Yen Cross
Yen Cross's picture

Are you completely mental? This isn't about partisan politics!

  It's about the total colapse of a financial system!

Sat, 10/27/2012 - 15:28 | 2924175 Zero Govt
Zero Govt's picture

Yes it is ..the current un-elected Goldmanshite fascist puppet in Berli's seat caused it

Go Berli Go

Sat, 10/27/2012 - 15:34 | 2924181 Yen Cross
Yen Cross's picture

 Typical European . Just evade the question, and pass the (€) to someone else.  You make me sick!

   The fact that (u) would hide behind a corrupt SOB like that, just solidifies, that you are part of the " entourage"...

Sat, 10/27/2012 - 15:56 | 2924213 Zero Govt
Zero Govt's picture

Dunno what a "typical" European is.. never met one.. that's the root of the problem with the EU, we don't want to be averaged and harmonginised by politicians into Euro-sheep

can you point out a "typical" American, even in your family?

I'm not evading anything BTW, I'm just being practical that I'm rooting for Silvio in a choice between 2 parasites... note the caveat above about parasites, i'm not super keen on any, they can all go hang

regards the financial shitstorm the Eurozone is a debt-ridden basket case ..but note the Goldmanshite is cutting back Govt but not giving bwankers haircuts ...tough on people, pandering to bwankers, a Goldmanshite bias

bad these Eurozone debts, who bubbled a mega-derivative house of cards on top? ...that's why bubble Bens coming to the rescue, wether you Yanks like it or not 

Sat, 10/27/2012 - 16:04 | 2924229 Yen Cross
Yen Cross's picture

 Polish one of your turds, and you will have one!

Sat, 10/27/2012 - 16:07 | 2924237 Zero Govt
Zero Govt's picture

that's Ben the toilet-cleaners job, polishing turds, paying good money for Wall Street soiled nappies

he's coming across the Pond real soon to mop up all the shit (derivatives) those stupid, stupid assholes on Wall Street wrote on top of the Euro sewer

"typical" American yes?

Sat, 10/27/2012 - 16:15 | 2924250 Yen Cross
Yen Cross's picture

Right? /NOT   It's dinner time in London.  I can't wait to hear your "pub blitherings"

  The ECB matter of factually, holds a debt ratio about 10% higher than the Fed. Thats excluding BIS /OIS/ movement.

  Zero Government, make sure that traffic cam, doesn't catch you in a drunken stupor!

Sat, 10/27/2012 - 16:22 | 2924266 Zero Govt
Zero Govt's picture

You have such a vivid imagination I'm not sure you're directing your posts toward me or your fantasies

wanna come down to Earth and maybe we can discuss something I actually said

Sat, 10/27/2012 - 16:41 | 2924317 Yen Cross
Yen Cross's picture

I'm all "ËARS".  By all means, enlighten me! You seem to make sense most of the time.

   Worshiping "Berlusconi" isn't one of your finer moments.

Sat, 10/27/2012 - 16:45 | 2924321 Zero Govt
Zero Govt's picture

when you'v seen the pure tedium of the Brussels lefty-loon cabbages for a couple of decades and a sole European PM enters with a pack of hot Italian models you'd admire him too

he's the only politician in Europe that isn't duller than dishwater


Sat, 10/27/2012 - 18:28 | 2924481 Yen Cross
Yen Cross's picture

Finally, the man speaks. I still think you are a sack of shit, just about to get flushed!

  Screw you and your "wananbe"self preservation ideas!

  Respectfully; (F-U), Zero Govt. and that spinless horse, you rode in on.

  I can tell you are scared. Better crack out that scuba gear.

Sun, 10/28/2012 - 06:49 | 2924977 Ghordius
Ghordius's picture

Yen Cross, perhaps this: here we make a difference between the laws and policies and the personal life of a politician

Sat, 10/27/2012 - 16:13 | 2924244 LibertarianX
LibertarianX's picture

Is my enemy's enemy my friend......?

Sat, 10/27/2012 - 16:10 | 2924240 LibertarianX
LibertarianX's picture

Is my enemy's enemy my friend......?

Sat, 10/27/2012 - 16:42 | 2924277 Zero Govt
Zero Govt's picture

Very true could be even simpler than that, just "I Vote Suicide"

...any nut-job candidate will do, frankly that's all politicians know anyway

in this instance Berlesconi is far far more likely to give bwankers haircuts than the Goldmanshite plant who'll lay waste to all Italy to ensure bwanker repayments

so I back suicide Silvio for that and a other reasons


Sat, 10/27/2012 - 18:30 | 2924485 Yen Cross
Yen Cross's picture

You are a "

plagiaristic moron.
Sat, 10/27/2012 - 15:32 | 2924157 Zero Govt
Zero Govt's picture

no fan of any politician (parasite) but on this occasion I hope Berlusconi mows down that Goldmanshite puppet in his Ferrari ...reverse back, twice just to make sure

C'mon Be' ...time for some banker roadkill


(Berlusconi 'staffed' all his EU rep team with hot young Italian models/totti ...amongst a legion of dreary Brussels socialists (think cabbages) ....a truly inspirational male leader of our day) 

Sat, 10/27/2012 - 15:52 | 2924207 kaiserhoff
kaiserhoff's picture

The new fiat line is out.  Damn things look like Easter eggs on wheels, candy colors too.  Sometimes the jokes are just way too obvious.  What did they pay for Chrysler again?  Oh right, nothing.  The taxpayers gave it to them.  Thanks Barry.

Sat, 10/27/2012 - 15:59 | 2924219 Zero Govt
Zero Govt's picture

you had to give Chrrysler away... who'd have paid a penny for it???

wanna buy GM ?

Sat, 10/27/2012 - 18:12 | 2924468 markar
markar's picture

Exactly. Berlusconi may be a crook but he's Italy's crook. And more importantly, a nationalist which is going to start spreading like wildfire all over Europe

Sat, 10/27/2012 - 15:19 | 2924162 Heyoka Bianco
Heyoka Bianco's picture

Berlusconi is Trump, Madoff, and Charlie Sheen all smashed together in one elderly package. Why would anyone believe, much less support, anything this thieving fuck has to say on anything? This is like Bush II lecturing Obama on misguided policies.

Sat, 10/27/2012 - 15:21 | 2924165 Yen Cross
Yen Cross's picture

plus one.

Sat, 10/27/2012 - 15:46 | 2924195 Zero Govt
Zero Govt's picture

"Berlusconi is Trump, Madoff, and Charlie Sheen all smashed together in one elderly package..."

Well you've got to admire his Trump and Sheen characteristics at least

Whereas that Godmanshite muppet is pure souless Madoff rape and pillage

So which would you choose?

C'mon Silvio, his arse is grass and you're a lawnmower....

Sat, 10/27/2012 - 16:00 | 2924224 Yen Cross
Yen Cross's picture

I admire your need of a "straight jacket"...

Sat, 10/27/2012 - 16:15 | 2924251 Zero Govt
Zero Govt's picture

leave me out of it and just admire the straight jacket

Sat, 10/27/2012 - 16:50 | 2924330 Yen Cross
Yen Cross's picture

Fair enough. I'll let the Sunday open talk. You can slither into that one.

Sat, 10/27/2012 - 17:22 | 2924375 Zero Govt
Zero Govt's picture

think i'm out clubbing in an hour

but you have good Sunday, i'll probably be sleeping most of it

Sat, 10/27/2012 - 15:47 | 2924196 LetThemEatRand
LetThemEatRand's picture

Oligarch worship.  It's a disease with no obvious cure.  

Sat, 10/27/2012 - 16:18 | 2924260 Zero Govt
Zero Govt's picture

No it's being practical, like watching your 2 turkeys running for president and wondering which bankster puppet is most palatable

Do NOT follow this link or you will be banned from the site!