Sunday, May 27, 2018

The EU buys time

But the resulting so-called chaos is very far from a negative result; it is certainly not the "worst possible outcome". Remember, Italy is well-accustomed to operating without a sitting government.
Recall that when we previewing the possible outcomes of Italy's government stalemate, in which president Mattarella had threatened to veto the choice of Paolo Savona as economy minister due to his anti-Euro/establishment sentiment, we said that the most likely - and market friendly - outcome, was for President Mattarella to give in to public pressure and the threat of a new election, averting a potential constitutional crisis. We also said that the second most likely outcome, and potentially far worse for markets, was that "if Mattarella and the coalition partners hold firm, we may be set for new elections, with M5S likely to repeat April’s success and Lega likely to increase its share of the votes, eating up Berlusconi’s party."

Moments ago that's precisely what happened, when Italy's premier designate, Giuseppe Conte, 53, told reporters after meeting the head of state Sunday evening that he had handed back his mandate for forming “the government of change" to president Mattarella. "I can assure you that I did my utmost to try to fulfill this task" he added.

As we reported earlier, Mattarella, who is supposed to be impartial but appears to have been anything but in this case, and was tasked with naming the premier and ministers, earlier rejected the candidacy of economist Paolo Savona, 81, who has repeatedly urged the Italian government to plan for a euro-exit, and who has criticized what he says is German dominance over Europe.

In other words, Mattarella sided with Europe over Italy's own choice.

“We worked for weeks, day and night, to ensure the birth of a government which defends the interests of Italian citizens. But someone (under pressure from whom?) said no to us,” Salvini wrote in a Facebook post, indirectly attacking the president's veto of Savona.

“At this point, with the honesty, coherence and courage of always, you must now have a say,” Salvini added in a call for early elections.

Salvini's scathing attack on the president continued: "If a government has to start conditioned by threats from Europe, that government won’t be backed by the League." The League leader then said he’d seek a full mandate in the event of new elections.
This betrayal of Italy by Mattarella is neither unforeseen nor unexpected. Everyone knew he was EU-owned. Salvini and La Lega were fully prepared to go back to the polls, knowing that this possibility would only strengthen the euroskeptics' position, which is why they refused to back down over the Finance Ministry. I tend to doubt 5 Stelle are shedding any tears over the chance to increase their numbers in the Parliament either.

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Blogger Stg58/Animal Mother May 27, 2018 6:44 PM  

Salvini: See? We were right.

Blogger peacefulposter May 27, 2018 6:58 PM  


Blogger cecilhenry May 27, 2018 7:00 PM  

Denmark is on the right track to a solution for all Western nations:

Denmark recently passed an immigration law that sets “an annual limit of 1,000 persons on new citizenships, whereby there will be a premise that people from Western cultures are given a higher ranking”. (code word for the White race)

Blogger Looking Glass May 27, 2018 7:01 PM  

Italians & "stable government" don't really exist together, thus, this result, was fairly predictable. EU will keep overplaying their hand, until the point someone uses some actual physical force in response.

Blogger tuberman May 27, 2018 7:19 PM  

Anything that furthers the likely fall of the EU is an improvement.

Blogger tz May 27, 2018 7:23 PM  

The hubris is extreme with the euroleet.
Tony Blair was interviewed Fareed Zakaria on his Fusion GPS - or is it Fareed GPS show.
Blair said the UK would have to have another referrendum to ask if they really meant Brexit. And talked about realizing there was some unknown problem why the plebs didn't accept the elite.

I can put it simply. In the crash of 2008, the elite that made stupid mistakes didn't pay themselves for them. Not a single one. They all got bailed out, and made lame excuses - even for the fraud, they should have been jailed not bailed. Meanwhile ordinary people lost their jobs, their homes, their families, and any hope of a peaceful life. No bailouts there.

I doubt many would have minded shoring up a few financial institutions while displaying the former CxOs Prez, VP, and Board's heads on spikes in the respective lobbies. Or shackled them in a starvation cage with free tasers for the public to use on them.

The next collapse won't be pretty. The elite think they have their retreats planned out - some are around my area. They will be surprised how things like errant hunting projectiles, or wildfires, or avalanches, or the errant boulder that randomly detached can ruin more than your whole day.

Blogger The Kurgan May 27, 2018 7:24 PM  

I sincerely hope that Veneto secedes and that the Serenissima returns to indipendente shortly after.
I care nothing for the so-called “governments” Italy has had and will have, but Salvini is different and if the Serenissima returns or has a chance to, I’d be willing to fight for THAT flag.

Blogger tz May 27, 2018 7:25 PM  

Greece has always had a stable government, though most often it was in the Augean sense after the Herculean task.

Blogger tz May 27, 2018 7:27 PM  

The problem is that everyone bought time - on credit.

The Chinese curse about interesting times is a double entendre.

Blogger jdgalt May 27, 2018 7:58 PM  

I hope Salvini knows what he's doing. In his shoes, I would accept (temporarily) a government without Savona in it, and then immediately moved to impeach Mattarella for not allowing the appointment of Savona as the constitution requires.

Anonymous Anonymous May 27, 2018 8:00 PM  

The better play for the EU, seems to me, would be over time to co-opt, buy off, bully M5E. Sort of worked with Syriza. Or hope for some catastrophe under Savona.

What they're doing now is completely overplaying their hand. The neoliberal order may collapse faster than anyone's expecting.

Blogger Lazarus May 27, 2018 8:23 PM  

Should not this egregious betrayal of the electorate make nationalists out of fence sitters?

Blogger Johnny May 27, 2018 8:42 PM  

Lazarus wrote:Should not this egregious betrayal of the electorate make nationalists out of fence sitters?

What I expect is that as the merits of the EU start playing out in real time based on something more than the moral slant BS, the whole thing will start losing support.

Blogger Lovekraft May 27, 2018 8:56 PM  

Will the citizenry give up some freedoms for security and is this the end goal of the elites all along?

What does the Saudi Crown Prince talk about with the western leaders when making the rounds?

The American example, tied to Christianity is in its, arguably, greatest crisis since its inception and emerging in some semblance of its core structure after the coming restructure will cement in man's subconscious that it is, and will be, the standard upon which all nations shall be judged.

A battle that will test us to the core. Right now we are seeing early skirmishes, positioning, loyalty-testing.

Blogger Hammerli 280 May 27, 2018 9:31 PM  

I don't follow Italian politics in detail, but the EU always seemed to me to be overplaying their hand. Claiming a mandate they don't have, to exercise powers not granted them.

And it's about to bite them, big time. Trump is proving that nationalism without chauvinism works quite well.

Blogger Fernando Negro May 27, 2018 9:42 PM  

(Having I already denounced the two following facts in comments to an older post here, some days after it was made, I'll just leave them here again, as comments to this new post also, so that everyone can now read them...)

1) "5 Stelle" is also EU/establishment-owned, "controlled opposition" ( +

2) Only "La Lega" is truly anti-EU/establishment ( +

So, the only way for Italy to escape the control of the EU/establishment is for "La Lega" to rule alone. And, if that happens, we will witness a true Revolution in Italy. The people who lead "La Lega" know all about the Bilderbergers and likes, and their plans. Since, authors like Daniel Estulin are given great attention to in Italy ( +

And, if Italy and another big European country (like France or Germany) leave the EU (and, in the case of France, that may happen, because Macron is a puppet of the Rothschilds and the British: that will be the end of the European "IV Reich" (

Blogger pyrrhus May 27, 2018 10:21 PM  

Mattarella is, of course, the usual EU bribed traitor, so familiar at this point. But Italy is not Greece...Italians need to fully wake up and vote for La Lega.

Blogger cyrus83 May 27, 2018 10:35 PM  

Italian government is somewhat non-functional even when there is a sitting government. I lived there for a few months back in 2007 and one consistent theme from all the locals was how much of a joke the government was, which was consistent with both of my encounters with officialdom over there. The government collapsed once during my stay, can't say it had any noticeable effect on how things worked...or didn't.

Anonymous Anonymous May 27, 2018 11:50 PM  

How does the premier get his job?

Is he elected or appointed?

Anonymous Anonymous May 28, 2018 12:03 AM  

BBC reports on The Fix:

“Mr Conte has now stepped down and correspondents say President Mattarella has been in talks with former IMF economist Carlo Cottarelli, who is tipped as a potential stop-gap prime minister.”

Put his head on a spike. Criminals have to be dissuaded.

Blogger dvdivx May 28, 2018 1:11 AM  

I wonder how involved Soros will be involved in the next election.

Blogger Nate73 May 28, 2018 1:23 AM  

Can someone link to a convenient video formatted for millennials which explains how voting works in Italy?

Blogger Miguel May 28, 2018 3:13 AM  

Fantastic. To add salt to the injury, Id say they only take Chrustians from non-western nations,and only those under persecution.

Blogger Brett baker May 28, 2018 11:07 AM  

So will Italians be seeing reprints and postings of the last chapter of The Prince?

Blogger Brett baker May 28, 2018 11:07 AM  

This comment has been removed by the author.

Blogger Dirk Manly May 29, 2018 10:42 PM  


"What does the Saudi Crown Prince talk about with the western leaders when making the rounds?"

What is your projected petroleum consumption?
How much will you charge to train our air force personnel?
How much will you charge for various weapon systems?

Things NOT talked about -- the goings-on in the various "Islamic Centers" at colleges and universities around the nation, of which nearly every single one is funded mostly or completely by the Saudis.

Blogger Dirk Manly May 29, 2018 10:47 PM  


"Fantastic. To add salt to the injury, Id say they only take Chrustians from non-western nations,and only those under persecution."

But don't publicize it, or every Moslem from around the world will taggiya up to his eyeballs about how he and his 4 underage wives and their 17 children are, and always have been Christians.

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