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Italian Senate Passes Budget Measure By Large Majority, Paving Way For Berlusconi Resignation
Minutes ago the Italian Senate, in a vote that passed 156 to 12, approved a key budget bill, paving the way for final passage tomorrow in
the Chamber of Deputies that will lead to Prime Minister Silvio Berlusconi’s resignation. The market reaction as judged by the EURUSD has been oddly muted with just 15 pips the immediate move higher, implying this has been largely priced in. The question, is noted previously, is whether Mario Monti will be able to form a unity government or if the country will proceed with drawn out elections in which Silvio himself will participate as well.
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Why the muted response?
Because Italy is the side show.
The sLide show will be just a boot-kick away, Es-painia..
ORI
Caveat Emptor
I am sure there is a bankster technocrat waiting in the wings for Spain as well
I'm sure wang, there is an assembly line of them. The School of the Americas for Dictator Training, Harvard for Iron Fists in Velvet gloves.
ORI
I always wondered about the process of "democracy" morphing to dictatorship, sort of reminds me of NYC, but what is so elegant about this is that they have pulled it off without so much as a flyover with a predator drone, though perhaps in the backrooms of power some choices were offered as they watched the raw video of Muammar's final hour.
Interesting wang. If it morphs into dictatorship means the seeds for the same must be in democracy, eh? Food for thought.
ORI
Say hello to 100 a BBL.. the march is still on - http://hedge.ly/u4MqAw ... no mario batalli today?
Unintelligible WTI move continues... nobody has the answer.
It may have something to do with the two aircraft carriers and large deck amphibious warfare ship parked in the Persian Gulf.
naaahh, that not gonna happen.
They will pass it..but never impliment it...
Underage hookers are already preparing: Soon bunga will have plenty of time for them!
He's going to resign WITHOUT immunity? Color me skeptical.
Not sure how it works in Italy, but I am guessing it's first on the new guys list. National unity, healing the nation and all that. Which will be correct, because I am sure Da Big Bunga Bunga has plenty on everyone to cause problems down the road.
No way the new government prosecutes him, he's a sellout, he's done his job to deliver Italy to the bankers.
"Italian Unity Government". I need to think about that for a moment.
in Italian it's called the NFP
Don't know the intricacies of Italian politics. My first thought is "it's always about revenge" but that's about it for me. It would seem Silvio is not going to run cuz second acts in politics are about as common as second acts in finance. Anywho "there's large-ness" over there--so taking billion dollar hits on the books of some of these massive banks and financial institutions in Europe...if it's the price of being part of the Euro-zone...will be made. We'll see if it can be sustained. Basically i'm looking at it like a huge poker game right now--if you want to play at the Euro-casino you have to ante up.
http://www.youtube.com/watch?feature=player_embedded&v=aKpE0HqJtow
Funny thing about this legislation: there is no austerity. It's just a resolution to cut the budget. haha
Excellent. Let the "Full Monti" jokes begin.
The reaction is muted because it's all for show. Call me when reforms are actually implemented.
i think that to the uber-elite & NWO types,
reform = changing the politician-players upon the chess board
revolving doors for banksters>>>goobermint>>>banks now being used in the peripheral EU econom
perhaps the modern banksters care more for who makes the laws & rules than their ancestors did?
but, if old nathan was bullshitting then, too... what a deflection!
these banks are already shelled-out zombies of paper ponzi
wanna get away?
good link to super-duper mario
Once again, Italy fools the world into thinking it has a federal government with the power to implement austerity reforms. Ha ha ha ha ha ha ha ha. I'm waiting for the response of the labor syndicates to the retirement age rise.
Of note, a few years ago one of the deputies spearheaded a bill to lower minimum wage. He died in a terrible and unexpected accident before it came to a vote. Pure coincidence of course.