Mario Monti Generously Offers To Stay On As Italy's Unelected Head

Tyler Durden's picture

Yesterday, the man planted by Goldman to be Italy's unelected leader in November 2011, officially stepped down and shortly thereafter his government was dissolved in advance of the February 25, 2013 elections. Yet Monti, under whose helm Italy has been in deep recession since the middle of last year, where consumer spending is falling at its fastest rate since World War Two and unemployment has risen to a record high above 11 percent, and whose candidacy is vastly unpopular with the Italian population, moments ago generously offered to continue being Italy's unelected leader: just the way Europe's political masterclass and its central bankers want it, if not so much Italy's people.

 After all, the only thing that has stabilized in Europe, however briefly, is its peripheral bond market, which is merely a function of Draghi's willingness to risk future monetary instability and runaway inflation in order to bring sovereign bond yields under control: yields which are only hit record highs because the local governments have proven time and again unable and unwilling to make hard structural reforms (and where austerity continues to be a widely misused synonym for government corruption and incompetence). And as long as yields represent not reality but the motives of a few unelected central-planners, nothing will truly change for the better in Europe.

From Reuters:

The former European commissioner, appointed to lead an unelected government to save Italy from financial crisis a year ago, resigned on Friday but has faced growing calls to seek a second term at the election on February 24-25.


Speaking at a year-end news conference, Monti stressed he was not now entering any political movement and that he was more concerned about his policy prescriptions being followed than personalities standing in the election.


Nonetheless, he said that if a political force or coalition offered a credible program that he supported, "I would be ready to offer my encouragement, advice and if necessary leadership."


Asked if that meant he was ready to stand as prime minister again he said: "If a credible political force asked me to run as prime minister for them I would consider it."

In other words, he won't run in the election, much the same way as last time, but he would be happy to continue his job as a PM, very much unelected. But it's not for him, it's for the children... Or perhaps Goldman.

Monti rejected suggestions that he was motivated by personal ambition to win political power.


"If I accept, it's to try to change the moral culture of the country. It's obvious it's not for my personal convenience," he said.

Obviously.... Realistically would Monti even stand a chance if he ran?

Monti has been strongly urged to stand by centrist groups ranging from disaffected former Berlusconi allies to the small UDC party, which is close to the Catholic church.


Monti said he hoped the next government would have an ample parliamentary majority and believed the traditional left-right divide was no longer adequate to tackle the problems facing Italy.


If he does enter the race, he will face strong opposition from Berlusconi, whom he criticized sharply during the course of his remarks, saying he had been "bewildered" by the 76 year-old billionaire media tycoon's frequent changes of position.


While numerous European leaders and Italy's business elite have called for his economic agenda to continue, ordinary Italians, weary of tax hikes and spending cuts imposed to cut a huge public debt, are less enthusiastic.


A centrist group headed by him would probably come a distant third or even fourth in the election and one survey published last week showed 61 percent of Italians felt he should not stand.

Of course, the above would be a valid consideration if any democratic principles were still respected and followed in Europe - a continent that over the past 3 years has become an unelected globalist's wet dream, and where any chance of uprising by the great unwashed is promptly quelled with threats that all accured entitlements (which are non-existent anyway), will be promptly pulled, and the "great austerity" will get even deeper.

So Italy can look forward to yet another window dressing government: one which pretends to do the bidding of the people, yet one which merely relies on the Central Bank's generosity in keeping rates low, while no real reforms continue to be implemented, in hopes that the great credit bubble ver 2.0 offsets any structural economic disincentives, and internal imbalances are merely offset by yet another bout of credit-funded consumption, all of which of course leading to an even faster and more uncontrolled unwind when it finally takes place, this time however without the benefit of the central banks' backstop activity.

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SWRichmond's picture

This is how out of touch you become when you surround yourself with sycophants.

mikla's picture

I also would be willing to be Italy's Unelected Head.

Those voters are so annoying.

They clearly need my leadership.

GetZeeGold's picture




Dude has a deathwish......I say give him a shot.

magpie's picture

Sounds like you want the old days back with pseudo-lefties running around and kidnapping people in their car trunks

GetZeeGold's picture



Just looking for a little change to go with all my hope.

markmotive's picture

The pigs are walking on hind legs again...

Time to re-read / re-watch Animal Farm.

YBNguy's picture

How do you say "Clowns to left of me, jokers to the right, here am I stuck in the middle with you." in Italian?

Popo's picture

Questo ovviamente non è Sparta


(Translation:  This is obviously not Sparta)

knukles's picture

Now that is truly funny...

About 4 or so circles within circles including the 7th of Hell's Flaming River of Blood to be crossed by the Italian middle class in leaky paper boats.

From Germany With Love's picture

And how do you say: "Monti is a coward who doesnt want to face the voters but just wants to get appointed PM again"?

mikla's picture

Monti è un vigliacco che non vuole affrontare gli elettori ma vuole solo tornare nuovamente nominato PM.

sunaJ's picture

THEY were supposed to be further along in the game of world domination before the crisis hit.  Everything I see indicates a world clamping down on itself.  This paradigm is spiralling toward tyranny, because the markets are "controlled" and only fraud allows it to continue.  Tyranny will be part of the natural order.


People will continue to lose it as they cannot figure out what is wrong.  The "citizenry" will lash out at proximal symptoms and call for banning guns, more  intervention, higher/lower taxes, war etc. until it is ALL gone.  There will be a significant matchstick moment, where the majority of people realize what is happening.  I have no idea what that moment will bring or when the herd will become self aware.  Prepare for many scenarios (even positive ones).


mjcOH1's picture

"Asked if that meant he was ready to stand as prime minister again he said: "If a credible political force asked me to run as prime minister for them I would consider it."

In other words, he won't run in the election, much the same way as last time, but he would be happy to continue his job as a PM, very much unelected."

I believe you misread his statement.   He didn't say he wouldn't run.   He merely requires the leadership of whatever party is most likely to win.

NoClueSneaker's picture

"Hope & change" sounds every second more and more like " lock & load "...

Hope in rope, change in charge, luck in Glock .... Dunno, the next Secretary General  of EU-Emergency Comitee  should be some Mad Max ( Robespierre ). Goldmanites could act as "collateral damages " ....

From Germany With Love's picture

You didnt read the script. All hail the benevolent dictatorship of our enlightened elites. They know right from wrong and need to guide us poor unwashed masses to keep us from harming ourselves.

Buckaroo Banzai's picture

Unelected heads of state: get used to it. That's the direction the entire world is moving in.

Max in St Moritz's picture



Only if you're a hillbilly doomer goon from the American backwaters.  Otherwise, no one believes that paranoid shit. 



FoeHammer's picture

Bow down Max. I hope you enjoy kissing jackboots

zhandax's picture

Max may be one of the jackboots.  I rather doubt that the term 'hillbilly' is commonly used in St. Moritz.

From Germany With Love's picture

Hey, things are "serious" so our heads have to lie, remember?

yogibear's picture

Another F*%#in bankster leech!!

The Italians need to do this to the banksters! First the Goldman Sachs gang.



Freddie's picture

Agreed about Monti and the rest of Goldman getting the Mussolini treatment.  Include Goldman man Draghi to the list.  

Silvio Bunga is an angel compared to those Goldman rat shit bastards.

Tom_333's picture

Scrooge...? Isn´t that old Scrooge himself who just may be talked into soldiering on...for the good of the world?

willwork4food's picture

I have decided to accept nomination for Treasury. It will interfer with family,ZH, and the daily six , but it's the least I can do for my country.

$350,00yr plus a new Lexus will help the pain.

Chief KnocAHoma's picture

I'll support you, but only if I get an invite to the bunga bunga parties.

willwork4food's picture

Deal, if you agree to bring along your cute sister...

NoClueSneaker's picture

Give him some hint - casting for acceptable whores in Detroit costs less than

an champagne evening on WS. Truckload of 'em for $ 5K.

He can still cash 25 K on stimulus. :-P

falak pema's picture

told u so; it was preplanned.

This is too big for Oligarchy; the Italian domino and crazy bunga-bunga BErlu can do anything when he is high on steroids. 

fonzannoon's picture

Good luck Mr. Monti-Bloomberg-Obama. Get to work.

Your ? needs you.

magpie's picture

Beppo FTW, when Silvio and Monti start slandering each other

Motorhead's picture

Boy, what a guy! 

williambanzai7's picture

I am willing to accept the job as an intern provided unlimited bunga is provided.

Navymugsy's picture

He's tanned, he's rested, he's ready. Berlusconi in 2013!

mjcOH1's picture

What's Bill Clinton doing these days?   Is Italian citizenship required to be elected bunga-master?   Honestly, they could do worse.   And already have.

knukles's picture

Listen, if we can have a non natural born extraterrestrial alien be elected here abouts and Monti can just plain be appointed, you can bet your ass Slick is available for Head Bunga Bunga Boy.
No Qualifications or Applications Necessary...
School chums, Sullfucks and Boners, it's who you know, my brother.

Now, passing the magic cash filled envelopes, the winner is....

Peterus's picture

Now, if they can only balance some of this destructive Keynsianism out - enough to escape total collapse but stay in permanent crisis - tptb score a big one.

Navymugsy's picture

We were in Sicily back in October and half of the stores in the town we stayed in were closed. I asked about this and the locals told me how the economy had been slow but in the last year, it had been steamrolling into the ground. Nothing like a GS guy to take your economy into the tank.


Oh, I forgot, I especially liked the Guardia Finanzia pulling people aside as soon as we landed at Catania and inspecting their purses and murses for large amounts of cash being moved into/out of the country. They even had dogs sniffing us for cash as we boarded the plane for Malta the next week. These guys could teach the TSA a thing or two!

yogibear's picture

The Goldman Sachs gang always takes. Like locust on the financial landscape. 

Tom_333's picture

Cash sniffing dogs? You mean real dogs or banksters at the airport.

Now I have heard it all...merry yuletidings.This is straight out of a Dickens novel. The world is turning into the likeness och a dimly lit Victorian London complete with workhouses and gin mills. Where´s Jack the R when you need him.

Freddie's picture

The Italians a decade ago wanted the Lira back.  The Germans never wanted to give up the DM.  The stinking newsmedia and banksters are relentless.

Monedas's picture

Monedas graciously offers to continue posting !        How many sand niggers* does it take to screw a camel ?   Answer:    3     One to "grab the tail" and two to rotate the step ladder !         * Monedas' picturesque term for denizens of the sandy areas of northern Africa and the Near East !

Disenchanted's picture




Funny how when I read the leading names in the networks that are financially ass-raping the world, I'm not seeing many 'sand niggers' listed. Except for maybe Saudis whose family ancestral patriarch went by the name of Mordechai bin Ibrahim bin Moishe.


Abdul Wahhab Ibrahim al-Shammari’s book, ‘The Wahhabi Movement: The Truth and Roots’, states that King Abdul Aziz Ibn Saud, the first Saudi monarch, was descended from Mordechai bin Ibrahim bin Moishe, a Jewish merchant from Basra.

Monedas's picture

Jews are sand niggers, too !  I'm not anti-semitic !     Did you hear some enterprizing Jewish promoters are re-introucing the Cabbage Patch Dolls with names of the Sandy Hook kids ?  

Disenchanted's picture



"Jews are sand niggers, too !"


I seriously doubt that when it comes to the Ashkenazi branch of Judaism.

Many the reference to Judeo-Christianity but who knew there was a Judeo-Islam as well. ;p