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Italian Stocks & Bonds Fall As Government Collapse Looms
Having rallied yesterday and totally ignored the fact that Letta's 10-month-old government was about to collapse, Italian equity and sovereign bond markets are falling this morning by their most in two weeks. The main bone of contention for Renzi-Letta fight is jobs and growth - there is none of either - and while Prime Minister Letta assures that the Italian economy grew in Q4 (GDP data to be released tomorrow) for the first time in 10 quarters, as Bloomberg's Niraj Shah notes, real GDP is still smaller than it was in 2000. Letta has just canceled his UK visit (planned for 2/24) and did not take part in the Democratic Party meeting with a Renzi friend saying "[Letta] will resign."
Via Ansa
Premier Enrico Letta said Thursday that he would not attend a meeting of his centre-left Democratic Party (PD) that has been called to decide whether it should continue backing his coalition government. New PD leader Matteo Renzi may call on the party to pull its support for Letta so he can take over as premier. Letta said he would not go to the meeting so that his party could "decide with serenity".
However, with unemployment at record levels, we suspect few will care about some manufactured, goodwill-enhanced GDP print. Italians are, of course, used to the farce that is politics - there have been 64 government since 1945.
Source: Bloomberg
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Moar Eurobux.......that'll fix it........thnx Max
64 governments in 69 years is a strong indication that government is not necessary.
64 in 69 means they need to work harder and double their output. Go for 70 in 70!!! #libtard
I could give a shit about what happens to Italy these days. Well maybe not, if they would elect more porn stars to their government. They know they're getting screwed anyway.
I think Matteo Renzi could be quite bullish if he takes over, he is very popular and it would be without an Election...so I would be very careful shorting this
Very popular my ass! 30% of the 70% (of 100% of having right to vote) of italians like him (quite all public employes). That makes 20 voters out of 100. Everybody else is quite less happy
He will work for the banks as well, same shit as bilderberg/trilateral Monti and bilderberg Letta
Renzi goes to the tv show "the fortune weel" same years ago (1994):
http://www.youtube.com/watch?v=LKbYpboK5eE
http://www.dailymotion.com/video/xvfp1z_matteo-renzi-alla-ruota-della-fo...
They should build a aircraft carrier with Greece.
"There are people in this world who go about demanding to be killed. You must have noticed them. They quarrel in gambling games. They jump out of their automobiles in a rage. They humiliate and bully people whose capabilities they do not know. These are people who wander through the world shouting, "kill me". And there's always someone ready to oblige to them." -Don Vito Corleone
It's like looking at a list of Popes - Burlesconi IV. He was better than Pius XI.
yes, but the jewish pope was the bestest of them all. and now he's gone.
http://forward.com/articles/192722/abe-foxman-jewish-pope-retires-from-a...
Hey, u need a stack of trading cards to keep up with these guys.
This show will be for all to see, very soon.
And no one will laugh. On the other hand, there is a lot of Good News as well.
http://www.thewarningsecondcoming.com/arab-uprising-spark-global-unrest-...
Hundreds of years ago, the bravest men in Europe crossed the Atlantic and founded the begninnings of a new country. These men survived on thier ambition and hard work and confronted the unkown to attain a life of self-determination. These men so loved what they created, they fought the king of England to make it completley their own. Once the forests were cleared and made safe and the ocean tamed by steam engines, the pussy European socialists invaded. They saw the wealth created by free men and swarmed like locusts.
The US is not far behind Europe.
Italians will be speaking German very soon.
Some things never change. Renzi sees himself as another Varus.
http://en.wikipedia.org/wiki/Publius_Quinctilius_Varus
Here is an interesting historical footnote:
http://en.wikipedia.org/wiki/Crisis_of_the_Third_Century
Aren't bonds backed by robbing [taxing] the citizens? Oh, wait, nobody has a job? That indeed is a problem...HELP, someone, I've fallen down and I can't get up!.....