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Keyword: italy

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  • EU: [Italian premier Mario] Monti plans 'Greek-style' takeover of Sicily to avert default

    07/19/2012 2:38:10 PM PDT · by bruinbirdman · 3 replies
    The Telegraph ^ | 7/18/2012 | Ambrose Evans-Pritchard
    Italian premier Mario Monti is mulling emergency action to take direct control of Sicily’s regional government before the island spirals into a full-blown financial crisis, fearing contagion to the rest of Italy. A woman begging in the street in Sicily. Regional councillor Andrea Vecchio has warned the island has run out of money Mr Monti held an “urgent” meeting with the country’s president Giorgio Napolitano on Wednesday to grapple with the constitutional issue after it emerged that the region faces a deficit of up to €7bn (£5.49bn) this year and is in danger of default without sweeping cuts. Sicily’s regional...
  • Italy's Monti says serious worry Sicily region may default

    07/17/2012 11:11:26 AM PDT · by mojito · 5 replies
    Reuters ^ | 7/17/2012 | Unattributed
    Italian Prime Minister Mario Monti said on Tuesday he expected the governor of Sicily to resign following a growing financial crisis that has pushed the autonomous region close to default. Monti said in a statement there were "grave concerns" that the island could default and he said he had written to the governor Raffaele Lombardo seeking confirmation that he would resign by the end of the month.
  • New cars in Europe may have to cut carbon emissions by one-third

    07/12/2012 4:53:07 PM PDT · by Olog-hai · 16 replies
    EurActiv ^ | 12 July 2012 | Fiona Harvey for the Guardian, part of the Guardian Environment Network
    New cars and vans in the European Union will produce one-third less carbon dioxide within eight years, under proposed new rules set out on Wednesday (11 July) in Brussels. By 2020, the average emissions from new cars will have to be no more than 95 grams of carbon dioxide per kilometer driven (5.4 oz/mile), a cut of more than 40 grams from today's levels and of 35 grams per kilometer compared with the 2015 target, if the proposed new regulations are accepted. Connie Hedegaard, climate chief of the European commission, said the goals were "ambitious but achievable" and would benefit...
  • The British, at Least, Are Getting Tough (Barclays rigging of LIBOR)

    07/08/2012 1:42:13 PM PDT · by neverdem · 12 replies
    NY Times ^ | July 7, 2012 | Gretchen Morgenson
    THE unfolding story of how Barclays — and, in all likelihood, other big banks — rigged interest rates is full of telling tidbits about the way Wall Street works. It also represents yet another teachable moment. By now the world knows that Barclays manipulated the most widely used benchmark rate, the London interbank offered rate. But Barclays is just one member of the cozy club that sets the Libor, which is supposed to be based on the average rate at which large banks can borrow money overnight. It’s not based on actual transactions, however — and that leaves room for...
  • Tuscan village on sale on Ebay for 2.5 million euros

    07/05/2012 3:34:27 AM PDT · by SunkenCiv · 22 replies ^ | June 28, 2012 | unattributed
    A medieval village, set in the Tuscan hills of Italy among castles and monasteries, can be yours for €2.5 million. Pratariccia, which is situated about 25 miles east of Florence, has now been put on sale through ebay, the popular online shopping website. The village consists of 25 homes and eight hectares of land. The village has been abandoned for over fifty years, so many of the buildings are in a ruined state and electricity lines would need to be established. Also, no roads exist that lead to the village. Local estate agent Carlo Magni said in an interview, "It's...
  • We Will Regret Having Qatar as an Ally Qatar a U.S. Ally? Think Again

    02/27/2012 2:36:20 PM PST · by bayouranger · 11 replies · 2+ views
    After 9/11, it became commonplace to ridicule the status of Saudi Arabia as an “ally.” For decades, American leaders cuddled up to the Saudi Royal Family as it spent billions of dollars to export radical Islam around the globe. Today, the U.S. is eager to have our “ally,” Qatar, take a leading role in the region while it does the exact same thing. Qatar is home to Sheikh Yousef al-Qaradawi, the most influential Sunni theologian and top Muslim Brotherhood cleric. He uses his popular show on Al-Jazeera, also based in Qatar, to rally support for Hamas, the Muslim Brotherhood and...
  • Euro debt crisis: is complete pessimism justified?

    07/02/2012 10:29:31 PM PDT · by bruinbirdman · 7 replies
    The Telegraph ^ | 7/1/2012 | Roger Bootle
    <p>It isn’t only that the immediate outlook looks grim but also that they can apparently see no way out. Yet throughout the post-war period, economists have tended to think that there is always a way out – and they have been trained to try to find it. Is the current abject pessimism justified?</p>
  • EU: German Dominance in Doubt after Summit Defeat

    07/02/2012 11:30:44 PM PDT · by bruinbirdman · 9 replies
    Spiegelonline ^ | 7/2/2012 | SPIEGEL Staff
    Outfoxed by Club Med Chancellor Merkel suffered a bruising defeat at last week's Brussels summit after leaders of Italy, Spain and France ganged up on her. Europe's power relations have shifted as a result. It looks like Germany will no longer be calling the shots in the EU. It was Monti, of all people, "Super Mario," as he's called in Berlin. The affable economics professor from Lombardy, the man the German Chancellery felt was the best thing that could have happened to Italy. The man who could "save Europe," at least according to Time magazine. It was Monti, of all...
  • Stunning Rise in Anti-Euro Sentiment in Italy

    06/30/2012 8:44:48 AM PDT · by Kaslin · 7 replies ^ | June 30, 2012 | Mike Shedlock
    The rise of the Five Star Movement in Italy is the number one happening in Europe right now and mainstream media has not even begun to cover it in any depth. The movement is led by an Italian comedian, Beppe Grillo. Main Rules for the Five Star Movement Not be an elected politician prior to 5 Stelle Commit to stay in charge for no longer than 2 termsCommit to take a minimum salary and give the rest back to the communityPost a public platform on the internet Be willing to hold a public debate on the platform Beppe Grillo's personal...
  • Mafia writer gets asteroid named after him

    07/01/2012 1:19:38 AM PDT · by JoeProBono · 9 replies
    upi. ^ | June 30, 2012
    ROME, - An Italian journalist and author known for exposing the Naples mafia was honored by having an asteroid named after him, officials said. Roberto Saviano had asteroid No. 278447 named after him Friday, Italy's ANSA news agency reported. Saviano was given the honor by the International Astronomical Union for exposing "the Camorra's organized-crime activities in his 2006 best-seller 'Gomorrah.'" Saviano received death threats for his novel and was placed under round-the-clock police protection after its publication. "Gomorrah" was later turned into a film and won second prize at Cannes and five European Film Awards in 2008. "Thank you Dr....
  • Berlusconi Ratchets Up Pressure on Monti [Is Bunga Bunga Back?]

    06/28/2012 6:23:06 PM PDT · by bruinbirdman · 2 replies
    Spiegelonline ^ | 6/28/2012
    By commenting that Germany should perhaps leave the euro and exerting significant pressure on Prime Minister Mario Monti, former Italian premier Berlusconi is back in the headlines. Are his political escapades those of a senile billionaire or is he seriously thinking of returning to power? On Tuesday afternoon in Rome, Italian Prime Minister Mario Monti and his predecessor Silvio Berlusconi were sitting at a table with a few close associates. Monti, alarmed by Berlusconi's recent statements, which were sometimes threatening and sometimes confused, was seeking clarity. Monti said that in such a sensitive and decisive moment, Italy's parliament must stand...
  • Euro 2012 SF: Italy 2 Germany 1

    06/28/2012 7:48:50 PM PDT · by aquila48 · 10 replies
    The Daily Star ^ | June 29, 2012 | Kenny Laurie
    Italy took advantage of some woeful German defending to book a date with Spain in the final of Euro 2012, winning 2-1 in Warsaw Thursday. The Italians went into the game as the underdogs but Mario Balotelli’s clinical finishing in a stunning first half was enough to secure Italy a place in Sunday’s final. Only ineptitude by Italy’s attackers in the second half stopped the game from being a total rout as Germany’s defenders put in a horrible performance. Read more: (The Daily Star :: Lebanon News ::
  • French Still Want To Vacation Midst Financial Crisis

    06/27/2012 1:38:04 AM PDT · by Cincinna · 18 replies
    Despite the euro crisis becoming increasingly dire as European governments scramble to patch up the broken banking system in Spain and shore up sovereign debt and budget deficits, French citizens still overwhelmingly want to go on vacation this summer. According to an l’Institut Français d’Opinion Publique (IFOP) poll, 73 percent of French citizens — a sizeable increase from last year — are still considering going on vacation this summer, with nearly a quarter saying that vacations of “three weeks” are ideal. If you thought the French weren’t belt-tightening, however, you’d be wrong. More French citizens seem to prefer shorter vacations...
  • 'U.S. Per Person Debt to Increase 7 Times Faster than Italian Debt'

    06/20/2012 12:01:13 PM PDT · by Hunton Peck · 9 replies
    The Weekly Standard ^ | 2:35 PM, Jun 20, 2012 | DANIEL HALPER
    A new chart, set to be released later today by the minority office of the Senate Budget Committee, finds that, in the next five years, "U.S. Per Person Debt To Increase 7 Times Faster Than Italian Debt." According to the chart, which is based on numbers calculated by the International Monetary Fund, U.S. per person debt is currently $52,900, while Italy's per person debt is $41,200. In five years, America's is projected to be $67,500, and Italy's $43,200. The chart stipulates that these figures are based on "General government (federal, state, and local) gross debt per person in nominal U.S....
  • EU studying links between Italian mafia and Somalian pirates

    06/20/2012 2:19:52 AM PDT · by Olog-hai · 5 replies
    EU Observer ^ | 06/20/2012 @ 09:28 | Andrew Rettman
    The EU special envoy for Somalia is looking into a fresh report that pirates are in business with Italian gangsters on toxic waste. The Paris-based criminologist, Michel Koutouzis, who carries out investigations for the UN and for EU institutions, described the problem in a new book—Crime, Trafficking and Networks—published in May. He said organized crime groups in south Italy—the Camorra, 'Ndranghetta and La Sacra Corona Unita—supply Somalian warlords with black market small arms from the Western Balkans in return for permission to dump waste. "Tonnes of waste are discharged every year off the coasts of Somalia, Sudan and Eritrea under...
  • The Life and Ideology of The New Terrorists (resurgence of anarchism in Europe)

    06/18/2012 11:19:25 PM PDT · by JerseyanExile · 1 replies
    Corriere Della Sera ^ | June 14, 2012 | Giovanni Bianconi
    “Struggle above all else, that’s what’s missing in Italy”, says one of the new millennium’s individualist anarchists. The one afraid of missing a fleeting opportunity while waiting for the right moment. “When is the right moment? When do we grasp the fucking moment? It’s like the communists... wait for the perspective of revolution! What perspective? The perspective of revolution is now! It’s right now! I can step outside and I’ve got all the targets I want!... Do you know how many targets I’ve got if I just nip out? There’s no point in waiting for something to fall into your...
  • Europe: She’s Come Undone.

    06/18/2012 5:35:32 PM PDT · by Lowell1775 · 8 replies
    Open Source Survival ^ | June 17, 2012 | Ronin Gael
    snip.... Old News and Current Events: I have written before that the fundamentals of the Euro and European Union didn’t bode well. They still don’t. Each step of these “rescues”, Iceland in 2008, Ireland in 2009, Portugal in 2011, Italy and Greece in 2011 and 2012….and now Spain ….are all just shocking the dying patient back to life for a few more moments of pain and chaos. The inevitable and permanent straight-line on the EKG is coming. It will be a collapse of the Euro and a financial crisis of a size not seen since WWII or the Great Depression....

    06/18/2012 10:46:33 AM PDT · by blam · 33 replies
    TBI ^ | 6-18-2012 | Simone Foxman
    MERKEL WON'T BUDGE, SPAIN AND ITALY GET DESTROYED Simone Foxman June 18, 2012, 11:40 AM The Spanish IBEX 35 and the Italian FTSE MIB got crushed today, after Greek elections failed to reassure markets that anything has changed for the troubled Spain and Italy. Comments from German Chancellor Angela Merkel worsened the blow. She told reporters near the end of European trading that she will not budge on the terms of the Greece aid package. In core Europe, the DAX held on to gains to end just slightly higher, but the French CAC 40 fell 1 percent. That negativity appears...
  • Italian Prosecutor: Calabrian Mafia "Is Quickly Spreading In The United States"

    06/16/2012 3:58:24 PM PDT · by AtlasStalled · 39 replies
    Friends of Ours ^ | 06/16/12 | Friends of Ours
    The 'Ndrangheta or Calabrian Mafia has emerged as the world's most powerful crime group due to its obscene profits from the cocaine trade in Europe, and it further has become entrenched in Australia, Canada and the United States with surprisingly little push back from law enforcement in those countries. Indeed, Nicola Gratteri, a top anti-Mafia prosecutor in Italy warns that "this mafia is quickly spreading in the United States, particularly in Florida and New York" as reported by Beatrice Borromeo for The Daily Beast: Gratteri's latest operations have led to the sentencing of 34 'Ndrangheta members and have uncovered a...
  • Spain, Italy vow action as borrowing costs soar - Merkel rejects 'miracle solutions', euro bonds

    06/14/2012 8:07:20 PM PDT · by InvisibleChurch · 10 replies
    Spain and Italy, under increasing fire in Europe's debt crisis, promised new measures to repair their public finances as their soaring borrowing costs raised new alarm ahead of a cliffhanger Greek election. But German Chancellor Angela Merkel rebuffed pressure from EU partners and the United States for Europe's most powerful economy to underwrite debt or guarantee bank deposits in the single currency area. Spain's 10-year bond yield hit a euro lifetime high above seven per cent on Thursday - a danger level above which Greece, Ireland and Portugal were driven to seek international rescues - despite last weekend's euro zone...