Skip to comments.Euro 'not in crisis': Italian PM
Posted on 01/08/2012 5:03:53 PM PST by Olog-hai
Italian Prime Minister Mario Monti on Sunday rejected talk of a euro crisis and said Rome was open to the idea of a tax on financial transactions championed by Francebut only if the measure was part of an EU-wide effort.
"The euro is not in crisis, the currency has solidly maintained its exchange rate with the dollar," Monti said on RAI 3 public television, adding that Italy's "banking system is not under threat".
"The problem we are facing is that some EU countries have a public debt crisis," he said. "Our crisis is a systemic crisis."
Monti, a former European commissioner who took office as Italy's prime minister and finance minister in November, said Italian commercial banks "are not under threat".
His comments came as Italy's top bank UniCredit on Wednesday set a low price for the share issue to raise the 7.5 billion ($9.8 billion) it needs to meet new capital requirements, sending its share price plunging.
French President Nicolas Sarkozy said Friday that France should not wait for other European countries to get on board with the so-called Tobin tax, named after Nobel Prize-winning economist James Tobin.
Monti, who had already said on Friday he thought such a decision needed EU-wide backing, said his openness to the idea "has nothing to do with the fact that I was a student of Professor Tobin."
(Excerpt) Read more at eubusiness.com ...
'methinks she does protest too much' or whatever Shakespear said.
3 card Monti.
Really? That’s why the Fed and ECB are panicking?
A tax-and-spend internationalist/UNaccountable bureaucrat/socialist/etc.,/etc. Who’da thunkit?
DEPOPULATE socialists from the body politic.
live - free - republic
I think he forgot the “trust me” before he asked Europe to bend over!
Mario Monti speak with forked tongue.
This was a guy who just a day or two ago pushed through authoritarian laws which suggest that he is terrified of a currency chaos or resultant collapse, so wants as tight as control as possible over all money in Italy.
Of course the end result of his efforts will be just the opposite of what he wants, in that it will breathe new life into the black market, smuggling will intensify, and those that are paying taxes instead of evading them will start seeking out tax havens and money laundering schemes to get their wealth where he cannot snatch it.
After U.S. Forces Seized Baghdad’s Airport:
“We butchered the force present at the airport. We have retaken the airport! There are no Americans there!”
It would be fun to laugh at the amazingly in-solvent European banks and the clown car full of European politicians—except for the fact that our “too big to fail” institutions are deeply insolvent as well.
Republican candidates, other US politicians, and virtually all European “leaders” are not talking about an orderly dismantling of these large institutions—which means the large banks and investment banks (and “hedge funds”, etc.) will collapse—worldwide, without warning, in a very ugly process. They all know it, too. (My old sig which applies here: “lying is what they do”.
Looks like Bagdhad Bob is alive and well living in Italy.Does this Eurocrat have any sense of embarrassment to utter this stuff.
In separate news, due to their gratitude, the EU members are renaming the “euro.” Henceforth, it will be called the “bernanke.”
Guest Post: Has Italy Gone Fascist?
Submitted by Tyler Durden on 01/06/2012 21:58
Submitted by Morpheus
“Gone” . . . ? It is a matter of record that they voted in a plethora of “post”-fascists back in 2008; they ended up with a majority. There were crowds shouting “Duce, Duce” and effecting Roman salutes when “post”-fascist Gianni Alemanno became Rome’s mayor. Leopards don’t change their spots.
Thanks for the post/info. BTTT!