Colosseum Eurozone: Is Italy Ready For War With Brussels?


#1
Colosseum Eurozone: Is Italy Ready For War With Brussels?

Julius Caesar was held ransom by pirates who captured him on the Aegean Sea in 75BC. He joked while in captivity that should he be released, upon his ransom being paid, he would return to conquer and crucify them all. They laughed, got paid, then ended up nailed on crosses. While partaking in this anti-piracy campaign which led to Caesar’s first elective office as a military tribune in 72BC, the last of the slave rebellions known as the Servile Wars broke out. Men don’t much like to be slaves, or captives. In 71BC the rebellion was crushed by eight Roman Legions ending in annihilation for thousands of rebels; 6,000 being crucified on the Appian Way as a warning. Of the rebel leader, a Thracian gladiator named Spartacus, history is silent. It is assumed he was slain in battle or crucified, though his spirit may yet be raised from the dead.

Since the bureaucratic center of a new hegemonic power in Europa is transalpine, will Brussels wage a New Servile War with the rebel Italians attempting to break free from the Colosseum Eurozone of austerity?

We’re no longer talking about a small peripheral nation called Greece: Italy has a GDP of €1.7 trillion which is about 11 times larger than Greece; a public debt of 132% of GDP at €2.1 trillion, 6 times more than Greece; while 60 million Italians make the nation 6 times more populous than Greece. Although Italy has the third largest Eurozone economy, its debt-to-GDP ratio is the third highest in the world. This large public debt is owed in three large chunks: €860 billion (41%) to domestic financial institutions; €380 billion (18%) to the ECB and other central banks, which is increasing fast; €735 billion (35%) to foreign creditors – mostly in Germany, France, Luxembourg and Spain. These Italian economic metrics are important to Brussels, but the geopolitical importance of the Italian peninsula is priceless for the greater visions of the Euroligarchy.

UfM: Energy IS Economy

Usually ignored in relationship commentary regarding Italy and the EU, this critical nation is positioned at the geographical heart of the ambitious Union for Mediterranean (UfM) project; a NATO expansion strategy to create the largest economically integrated geopolitical bloc on earth. The UfM is a culture clash project kick started in 1995 by the Barcelona Process, augmenting EU immigration policy to allow millions of impoverished workers and their families – most of them Muslim – to flood into Europe as part of an insane EU-MENA integration strategy. If you thought cramming all white European nations together was ambitious, imagine throwing Allah’u Snackbar and Israel into the mix.

Colosseum Eurozone: Is Italy Ready For War With Brussels?

Central to the UfM is a trade and investment scheme known as the EuroMediterranean Free Trade Area advertised as a ‘shared prosperity’ initiative. In a previous article this scheme was exposed as an economic marriage between the hydrocarbon poor EU and the hydrocarbon rich MENA. Natural gas pipeline routes play an exceedingly important part in this marriage including the NATO strategy to destroy Russia’s Gazprom. The Italian peninsula provides the spine for the massive Trans-Mediterranean pipeline which connects up with North Africa via two existing and one almost complete submarine pipeline system :

  1. Trans-Mediterranean pipeline, via Sicily from Tunisia (operational).

  2. Greenstream pipeline, via Sicily from Libya (operational).

  3. Galsi pipeline, via Sardinia from Algeria (operational in 2018).

To see this important pipeline spine running up the Italian Peninsula, including its connections to North Africa, use the zoom, vertical, and horizontal scroll bars in the below pdf viewer of the 2017 ENTSOG MAP.

If you can see this text your browser didn’t support the PDF viewer for the 2017 ENTSOG Euro natural gas network map. No problem: To download it simply click here.

Colosseum Eurozone: Is Italy Ready For War With Brussels?

The European natural gas pipeline network is a truly extraordinary CapEx investment in the modern era. These pipelines are as important as railway lines were during the industrial revolution; especially now that natural gas will replace coal over the next 50 years in Europe. The exclusive economic zones (EEZ) of Spain, Italy, and Greece, are required transit zones for northern European nations to access gas imports from Africa; especially when the planned Trans-Saharan pipeline project to tap the massive reserves of the Nigerian Delta becomes a reality.

As oil and natural gas reserves in Europe dwindle due to reserve exhaustion, Europe will become dependent on Russia if it cannot secure the EuroMed Free Trade Area to streamline investment; binding pipeline and hydrocarbon exploitation agreements into a UfM-wide legal framework. Even though energy politics underpin almost all long-term macroeconomic endeavors today – including the climate change industrial complex – most media commentators and analysts fail to mention the importance of natural gas. Without diverse and reliable access to cheap energy resources, large developed economic blocks like the EU cannot compete with rising industrial powers like China.

The Tower of Babel in Brussels doesn’t much enjoy being challenged, especially when it comes to finance and investment schemes this important; which will always supersede issues of national autonomy. Italy’s bond holders in the north, especially the ECB, demand allegiance, but the large petroleum giants such as Italy’s Eni and Royal Dutch Shell who build and operate pipelines such as these, need geopolitical relationships to remain in place; even if it means pushing uncooperative sovereign nations and elected governments to the curb when required.

A clear message was being sent last week when the Italian President Sergio Mattarella refused to accept the new coalition appointment for Minister of Finance – Salvini pick Paolo Savona, a Eurosceptic and anti-German – instead threatening to appoint Carlo Cottarelli as caretaker Prime Minister in place of the elected M5S-Lega coalition designate Giuseppe Conte. BBC reported on June 1st that the deadlock was over and Conte would take office, but the warning was heard loud and clear :

“A coalition government has been agreed in Italy, ending months of uncertainty in the EU's fourth-biggest economy.

Prime Minister-designate Giuseppe Conte presented his list of ministers to President Sergio Mattarella for the second time in a week and the new government will be sworn in on Friday.

Ministers are drawn from both the anti-establishment Five Star (M5S) and the right-wing League.

Attempts to form a technocratic government [under Cottarelli] had failed.

Mr Mattarella rejected Mr Conte's original choice for economy minister but a different candidate was agreed on Thursday. ...

In the end, the populist parties decided to back down and accept the president's veto of their original choice of a eurosceptic economy minister.

Their newly chosen minister, Giovanni Tria, is in favour of Italy's continued membership of the single currency.

But the populists' conflict with the EU is not entirely over. The M5S and the League have promised both new welfare spending and also tax cuts - which may run into conflict with the EU's spending rules.

League leader Matteo Salvini will be the interior minister. He has promised a tough new policy on migration, which may provoke arguments within Europe.”

Cottarelli is an Italian economist with experience working at the Bank of Italy and as an IMF director, but he also worked at Eni; one of the EU’s foremost petrochemical giants HQ’d in Rome, making him a money, debt, and energy man. Likewise, during the ongoing Greek sovereign debt crisis, the Troika – ECB, EC, and the IMF – have revealed themselves to be masters of national destiny in the Eurozone. Brussels cannot allow Imperial provinces like Greece and Italy to leave Colosseum Eurozone; they must remain, to fight under perpetual austerity, shackled and servile.

Colosseum Eurozone: Is Italy Ready For War With Brussels?

It's all about the money

“Europe will be created by means
of a single currency or not at all”
~ Jacques Rueff, 1949, leading French economist.

Having fled from his position as the deputy governor of the Bank of France in 1941 – due to new anti-Semitic laws in Vichy France – Jacques Rueff found himself in London where he’d previously worked as an attache managing the sterling reserves for the Bank of France. After the war he became a leading member of the Mont Pelerin Society; a coterie of self-proclaimed liberal economists who saw John Maynard Keynes as a manifestation of Beelzebub. Whereas Keynes was one of the earliest voices emphasizing that Germany couldn’t possibly pay the WWI reparations laid upon her in the Versailles Treaty – correctly predicting it may trigger another conflict – Rueff remained his staunchest critic :

“Jacques Rueff’s contribution to the [reparations] debate appeared in the September 1929 issue of the Economic Journal ... He supported Ohlin’s contention that there was no transfer problem by producing evidence refuting Keynes’s assertion that trade flows were insensitive to monetary flows such as reparations payments and capital movements.”
~ L. Gomes, “German Reparations, 1919-1932”

Rueff kept up these assertions well into the late 1930’s and, well, we know what happened next. It is to men like Rueff that we owe such conflict between nations; men who later offer their own solutions to prevent future conflicts. European integration was a project that Rueff could not get enough of during his life – ironically something Adolf Hitler also had in mind. Rueff & Co., channeling infinite wisdom down from Mont Pelerin, had their own scheme however; unfortunately playing out in the current day as nations all across Europe find themselves trapped in the wrong currency at the mercy of the Euroligarchy.

Rueff was a strong advocate of the gold standard; a position which placed him at odds with Milton Friedman, the leading American member of Mont Pelerin I recently critiqued. Despite this, Rueff was a globalist who viewed nation states merely as raw material for technocratic schemes and money powers. Believing in a gold standard does not remove the problem of fractional reserve banking. Rueff would become Charles de Gaulle’s economic muse in his attacks against emerging US dollar hegemony and the US Treasury Bond Standard. While he decried US globalism, Rueff dreamed of a day when a centralized EU globalism would take its place; like swapping morphine for a heroin habit.

“If the euro fails, Europe will fail,
and with it the idea of European unity”
~ German Chancellor Angela Merkel, May 2010.

According to dogmatic advocates of European integration such as Rueff and now Merkel, ‘Europe’ did not exist prior to the coming of these masterful post-WWII dreamers. Europe is in fact a type of money. Dig into your wallet and pull out an ECB sanctioned banknote; you’re staring at the be-all and end-all of thousands of years of European achievement. Apparently, white European identity is a non-existent concept and all European national identities are to be viewed as a toxic barrier to the creation of a ‘European unity’; which is quickly becoming an oxymoron.

A parallel can be drawn here between the Eurozone and the city of ancient Rome, which became merely a political hub and money clearing center for a territorial expansion project progressively detached from the founding intentions of its original 300 senatorial families. These families initially fought to protect the posterity of their kith and kin, but by the time of the late Republic and Julius Caesar, many of these aristocratic families had only pursuit of fame and fortune on their minds – déjà vu.

The larger UfM globalist agenda to quickly fuse white European peoples with non-European immigrants from the mid-east and North Africa – in order to achieve a purely economic tradeoff serving a Euroligarchy at the expense of cultural continuity, social cohesion, religious tradition and security – is a crime of unimaginable degree. To these globalist traitors, the Reconquista and the Siege of Vienna are simply irrelevant. In a bygone era such traitors would have been exiled if lucky.

Take a look at that black ECB line above since 2015, sucking in all the Italian government bonds as if it were a vacuum cleaner. What and who does this banking ‘service’ buy? Why couldn’t Italy have simply kept its own central bank and monetized its own debt?

Brussels serves no purpose but to preach the infallible doctrine of ‘Europe’ and the ECB in Frankfurt is merely a debt prison sucking nations like Italy into Rueff’s nightmare. The ECB only serves to enrich a bloated, cosmopolitan oligarchy, which couldn’t care less for the hopes and dreams of millions of white Europeans now under a yoke of servitude as their ancestors roll in their graves. Over 30% of Brussels residents were not born in Belgium and 25% of the population is now estimated to be Muslim. 51% of Frankfurt, likewise, has a migrant background, 13% being Turkish. Immigrants are more likely to be unemployed and living below the poverty line in both cities. If these cities are posterchildren for Europe, then it’s about time European nations reasserted their sovereignty – starting with a return to sovereign money.

Colosseum Eurozone: Is Italy Ready For War With Brussels?

Magnitude 10: Eurozone earthquake

Italy has experienced some severe earthquakes in the past few years, but the recent March 2018 General Election and its aftermath are merely the warning tremors for a much larger continental conflict which is well overdue. Greece had no chance of escaping the clutches of Brussels and Frankfurt, but if Italy were ever to become self-actuated as a nation – as it now is – they were always going to give the Euroligarchy a run for their money – or to literally run away from the money, as the case may be.

This election has decimated the leftwing social-democratic and Europhile Democratic Party of former Prime Minister Matteo Renzi, forcing him to resign as party leader. On the right-wing of politics, Silvio Berlusconi’s old school establishment Forza Italia party was treading water, but his center-right partner under coalition leader Matteo Salvini, known as Lega – formerly the separatist Lega Nord – experienced an almost 8 times increase in lower house seats. First the people of the UK, then France, Germany, now Italy, are starting to write an EU obituary.

The rise of the revolutionary left-wing, anti-establishment and eurosceptic 5 Star Movement (M5S) of Beppe Grillo and Luigi Di Maio, continued its rise, as expected, almost doubling its seats in the lower house. As a result of M5S refusing to work with Berlusconi, Salvini has finally come to an agreement with Grillo and Di Maio to form what they have called a Government of Change, led by someone they can both work with; new Prime Minister Giuseppe Conte. Politics does indeed make strange bedfellows, but this populist coalition comprising of a distinctly left-wing and right-wing party which both need each other to maintain government, is quite different from anything the EU has ever seen.

Colosseum Eurozone: Is Italy Ready For War With Brussels?

Colosseum Eurozone: Is Italy Ready For War With Brussels?

Populist sentiment in the recent French election around Marine Le Pen was high; the status quo establishment parties on both sides being eviscerated, though a camouflaged establishment candidate, Emmanuel Macron, nevertheless managed to slither into the Élysée Palace on his belly. The right-wing populist AfD in Germany have also been on the rise, forcing Angela Merkel to work closer with the far left in order to hold together her tenuous grip on power, but nevertheless she is still enthroned; continuing to steer Europe off a cliff. The media in Italy are calling this the Governo giallo-verde (Yellow-Green government), but it should actually be called the Spartacus Italia because it is headed for Brussels – via Frankfurt – with gladius drawn . . . just watch!

The election maps below show some intriguing regional results. The left-wing M5S actually lost support north of Rome but boomed south of the city, whereas the right-wing Lega have gained support across Italy but especially north of Rome. A sizeable portion of the M5S vote in the north has been picked up by Lega, proving that a substantial portion of the M5S support base there during the 2013 election was more a populist protest vote against the EU and the Italian establishment parties instead of them being supporters holding left-wing convictions.

Colosseum Eurozone: Is Italy Ready For War With Brussels?

Above maps from website of Francesco Bailo (under license)

Lega, formerly known as Lega Nord, has since 1989 flirted with the idea of separatism; seeking independence for the largely industrialized region of northern Italy surrounding Lombardy and Milan, the financial capital of Italy – known as Padania and Padanian nationalism. When not openly advocating separatism the party has proposed a Federalist vision for Italy; emphasizing regional autonomy for northern Italy, especially when it comes to fiscal matters. These fiscal considerations are what create the north-south divide on the above map, explaining why the center-right Forza Italia of Berlusconi is still holding onto the right-wing and conservative voters south of Rome; Berlusconi largely supports – or people see through his rhetoric – the fiscal status-quo, as did Renzi.

Colosseum Eurozone: Is Italy Ready For War With Brussels?

The above map of GDP per capita exposes the big problem: Italy has a two-sided economy; the north is where economic activity is concentrated, and the south – including Sicily and Sardinia – is heavily agrarian with less economic activity, lower human development indexes, and large numbers of people in poverty. As a result, citizens in the north who have more employment opportunities are prone to vote for tax cuts while those in the south are prone to vote for redistribution of wealth. This will be the main contention within this new coalition because tax cuts promised by Lega, if combined with promised increases in wealth redistribution by M5S, will require increased government bond sales.

This situation will become untenable to the spending demands of the Troika. The ECB is already showering the Italian Treasury with a fiat firehose and if it allows the hose to double, countries such as Greece will begin to put their hands out also, protesting they’ve been treated like second class citizens under more severe Troika austerity programs. Herein lies the problem of trapping incompatible economies within a currency prison such as that dreamed up by Jacques Rueff. It’s bad enough for nations like Italy to internally balance their own north-south two-sided economic dynamics, let alone setting Northern European nations against their Southern European peers (another two-sided phenomenon).

Lega and M5S have one thing in common; Euroscepticism. They need the Lira back, but even if they do, they’ll still have problems selling new Lire denominated government bonds because the ratings would be worse than junk and the interest rates would be insane. In such a situation, M5S would need to stop dreaming upon a star – five in fact – and come back down to earth. Lega is actually the party holding all the cards if Italy were to regain its independence. Salvini knows this and it would seem many Italians may start working this out. Regardless, both parties should be able to accept that EU immigration policies are suicidal and need to be halted immediately.

Pragmatically, Salvini removed “Nord” from the party name and remolded Lega in 2017 as an Italian Nationalist party, decrying immigration; a move that has tapped into the Eurosceptic zeitgeist exploding across the EU. Five weeks before the March election, in late January the body of Pamela Mastropietro, an 18 year old drug addict from Rome, was found in Macerata dismembered and stuffed into two suitcases. Three Nigerian immigrants were arrested and charged with the crime while a fourth suspect – a Ghanese drug dealer – was reported fugitive. Body parts were found to be missing, indicating that, shockingly, a muti killing involving cannibalism may have taken place – more cultural enrichment!

Days after this gruesome murder was reported, on February 3rd, a young 28-year-old Macerata resident named Luca Triani took part in a retributive drive-by shooting incident in which six African immigrants were injured. When the police finally arrested the assailant he was found with the Italian tricolor draped over his shoulders at a local WWII memorial. Many in Italy have openly announced support for this action, rightly citing the flooding of Italy with African immigrants as a cultural crisis which is destroying the social fabric and security of the Italian state. Such events have especially fueled Lega, which will continue.

White Europeans are beginning to realize that by flooding Europe with third world immigrants, giving them residency and a vote, the Euroligarchy is seeking to bolster support for establishment socialists on the left – and the faux-right – who will continue to ignore populist desires until demographics change so irrevocably that Euroscepticism as a viable ballot box policy can be vanquished. The problem with this scheme is that it has already failed; the white European demos, especially in Italy, have awakened to find their national identity is being actively targeted by Brussels.

Just as Julius Caesar was captured by pirates during the last Servile War in Italy, European peoples need to realize that Brussels is merely a pirate ship and Frankfurt is the treasure chest. At the end of the day, the treasure that is funneled through Frankfurt is coming from the very nations they complain are addicted to debt. Usury is treasure and, it is serviced by your blood, sweat, and tears. You, the people, and your nations, are the source of all wealth – not a bunch of glorified accountants sitting in an office tower in Frankfurt counting loot on a spreadsheet, or a bunch of bureaucratic traitors in Brussels tempting fate with a new continent wide Servile War brewing.

Will Spartacus Italia make a stand against Empire building?

If Spartacus Italia does make a move, will Brussels send eight Legions over the Alps to crush the rebels if they decide to act unilaterally in reclaiming their nation and reissue a sovereign Lire? Slave or Spartacus?


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This is a companion discussion topic for the original entry at https://republicstandard.com/colosseum-eurozone-italy-ready-war-brussels/

#2

Looks like the Italians have had enough of the EU:
Italy: “The Party is Over” for Illegal Migrants

by Soeren Kern
June 4, 2018 at 5:30 am

An estimated 700,000 migrants have arrived in Italy during the past five years. — International Organization for Migration (IOM).

"There are not enough homes or jobs for Italians, let alone for half the African continent." — Matteo Salvini, Interior Minister, Italy.

This law [Article 10 of the EU Charter of Fundamental Rights] effectively prevents Italy and other EU members from deporting migrants to most countries in the Muslim world.

Italy’s new interior minister, Matteo Salvini, has vowed to cut aid money for migrants and to deport those who illegally are in the country.

“Open doors in Italy for the right people and a one-way ticket out for those who come here to make trouble and think that we will provide for them,” Salvini said in the Lombardy region, home to a quarter of the total foreign population in Italy. “One of our top priorities will be deportation.”

Salvini, leader of the nationalist League (Lega) party, formed a new coalition government with the populist Five Star Movement (M5S) on June 1. The government’s program, outlined in a 39-page action plan, promises to crack down on illegal immigration and to deport up to 500,000 undocumented migrants.

“The party is over for illegal immigrants,” Salvini said at a June 2 rally in Vicenza. “They will have to pack their bags, in a polite and calm manner, but they will have to go. Refugees escaping from war are welcome, but all others must leave.”

From left to right: Italy’s Interior Minister Matteo Salvini, Prime Minister Giuseppe Conte and Labor and Industry and Deputy PM Luigi Di Maio on June 1, 2018 in Rome. (Photo by Elisabetta Villa/Getty Images)

On June 3, Salvini visited Sicily, one of the main landing points in Europe for migrants crossing the Mediterranean Sea from North Africa. He said:

"Enough of Sicily being the refugee camp of Europe. I will not stand by and do nothing while there are landings after landings of migrants. We need deportation centres.

"There are not enough homes or jobs for Italians, let alone for half the African continent. We need to use common sense."

Salvini also accused Tunisian authorities of deliberately sending criminals to Italy:

"Tunisia is a free and democratic country that is not exporting gentlemen but often willingly exports convicts. I will speak to my Tunisian counterpart, it does not seem to me that there are wars, pestilence or famine in Tunisia."

Italy is the main European gateway for migrants arriving by sea: 119,369 arrived by sea in 2017 and 181,436 in 2016, according to the International Organization for Migration (IOM). An estimated 700,000 migrants have arrived in Italy during the past five years.

Italy has been the main point of entry to Europe since the EU-Turkey migrant deal, signed in March 2016, shut off the route from Turkey to Greece, at one time the preferred point of entry to Europe for migrants from Asia and the Middle East.

In February 2017, Italy signed a migrant deal with Libya to intercept boats and return migrants to Libya. The deal, in which Italy committed to equipping and financing the Libyan coast guard, resulted in a 75% decrease in arrivals during the summer of 2017. Since the beginning of 2018, however, more than 13,000 migrants have arrived in Italy from Libya. Those numbers are expected to increase during the summer as the weather improves.

Meanwhile, Italy deported only 6,514 migrants in 2017, and 5,817 in 2016. The new government has pledged to speed up deportations by converting migrant reception centers into deportation centers. Deportations, however, are expensive and complex.

According to Italian law, for example, at least two agents must escort each deportee in an elaborate operation. The newspaper La Repubblica described a recent deportation operation of 29 Tunisians, who were escorted on an aircraft chartered from Bulgaria by 74 government agents, including doctors, nurses, armed police and unarmed plainclothes officers, at a total cost of €115,000 ($135,000), or €3,965 per deportee.

At this rate, the new government’s pledge to deport 500,000 migrants would cost Italian taxpayers nearly €2 billion ($2.3 billion).

The previous government allotted around five billion euros to pay for expenses related to the migrant crisis in 2018: 20% is for rescues at sea; 15% for health care, and 65% for migrant reception centres, which currently host around 200,000 people.

The new government has said that it wants to divert some of the funds allotted for the reception centers to pay for deportations. In addition to the financial costs, Italy faces legal hurdles that make mass deportations nearly impossible.

Article 10, Paragraph 2 of the EU Charter of Fundamental Rights states:

"No one may be removed, expelled or extradited to a State where there is a serious risk that he or she would be subjected to the death penalty, torture or other inhuman or degrading treatment or punishment."

This law effectively prevents Italy and other EU members from deporting migrants to most countries in the Muslim world.

The new government has also pledged to negotiate more bilateral deportation agreements. Italy currently has deportation agreements with only five countries: Egypt, Gambia, Nigeria, Sudan and Tunisia. Migrants cannot be deported without approval from the states of origin.

Salvini has also said that Italy will reject proposed changes to the Dublin Regulation, a law that requires people seeking refuge within the EU to do so in the first European country they reach. The Dublin Regulation will be the focus of a meeting between the interior ministers of the 28 EU members states in Luxembourg on June 4.

Italy’s geographic location means that it has borne disproportionate responsibility for illegal immigration from Africa and the Middle East, but Salvini said that other EU member states are resisting changes that would require them to share the burden: “They want to weigh down the Mediterranean countries, such as Italy, Cyprus, Malta and Spain, giving us thousands of more migrants for a period ten years.”

EU law currently requires member states to be financially responsible for migrants arriving in their countries for a period of ten years. Poland, Hungary, the Czech Republic and Slovakia, want that responsibility to be reduced to eight years, but Italy, Cyprus, Greece, Malta and Spain want to lessen it to a maximum of two years.

Meanwhile, pro-EU, pro-mass migration and pro-multiculturalism media outlets have gone into attack mode in an effort to undermine the new Italian government.

The German newsmagazine Der Spiegel published a cover which featured a fork of spaghetti with one piece dangling as a noose: “Italy is destroying itself — and dragging down Europe with it.” It wrote, in apocalyptic terms:

"The EU must adopt a united stance on Donald Trump, whose misguided policies threaten both Europe's security and prosperity. Trump is forcing Europe into a trade war and, worse yet, he threatens to scrap the postwar international order that enabled the Europeans to find their place in the world — through trade and the structures of the World Trade Organization and the security it found in the form of NATO.

"But how can the EU wage a trade war if Italy threatens to spiral into chaos? At a time when the EU could be proving itself as an alternative to Trump's unilateralism...Europe may instead be facing months, if not years, of squabbling over a possible bailout for Italy.... If this country teeters, it will shake the entire architecture of the European Union.

"The Italy crisis is a convergence of the two greatest challenges facing the EU: the economic threat to the eurozone and the erosion of shared values and norms. If the populists now govern in Italy, the country could steer itself on a course of constant confrontation with Brussels — by for example, expressing its solidarity on key issues with right-wing populists in France, Austria or Finland or with the EU-critical governments in Hungary and Poland.

"Or it could take the side of half or full-on autocrats like Donald Trump and Vladimir Putin and undermine European unity in the process. Some potential issues where it could do so include the Iran agreement, the trade tariffs imposed by Trump, the extension of sanctions against Russia, climate policy or even the European approach to China.

"The revival of nationalism in Europe, particularly in Italy, is bad news for the Continent. If the EU ever had one great, overarching goal, then it was to counter national self-interest with the vision of a transnational community of values. What will hold Europe together if that foundation is shaken?"

The New York Times wrote:

"The xenophobic League and the out-with-the-old-order Five Star Movement — bring together bigotry and incompetence to an unusual degree. They are a miserable bunch borne aloft on the global anti-liberal tide."

And again:

"Matteo Salvini — the leader of the League and the incoming deputy prime minister and interior minister — is vowing a crackdown on migration and the expulsion of up to 500,000 migrants already in Italy.

"That could force Brussels to start an Article 7 process against Italy for breaking the fundamental commitments to the rule of law.

"And the new Italian leaders have already expressed their desire to improve relations and trade with Russia and its president, Vladimir V. Putin.

"That may mean that the European Union is unable to renew economic sanctions against Russia stemming from its behavior abroad, including its annexation of Crimea, violation of the Minsk accords in eastern Ukraine and the assassination attempt on a former Russian spy and his daughter in Britain, which the Kremlin continues to deny.

Enter George Soros, a billionaire Hungarian-American committed to mass migration in Europe, who blamed Russia for interfering in the Italian election:

"I am very concerned about the proximity of the new coalition government to Russia. They said that they are in favor of the cancellation of sanctions against Russia.... There is a close relationship between Matteo Salvini and Vladimir Putin. I do not know if Putin actually finances his party, but Italian public opinion has the right to know if Salvini is on Putin's pay check."

After the new Italian government was formed, Soros called for more open borders:

"Until recently, the majority of migrants could move to the countries of northern Europe, their true destination. Then both France and Austria closed the borders and the migrants found themselves stuck in Italy.... This was the main reason why the League did so well in the last election.

"The EU must change the existing regulations and pay a large part of what is needed to integrate and support the migrants that are stuck in Italy in such an out-of-proportion proportion."

Salvini replied:

"We have never received a lira, a euro or a ruble from Russia. I think Putin is one of the best statesmen around and I am ashamed of the fact that Italy has invited an unscrupulous speculator like Mr. Soros to speak here."

Soeren Kern is a Senior Fellow at the New York-based Gatestone Institute.


#3

Let’s hope it is over, but when the Troika marches down into Italy, inevitably, increasing Italy’s population in order to improve their debt-to-gdp ratio will be near the top of the list of demands required in order to secure continued ECB Italian govt bond purchases.

At that point, Salvini and Di Maio will need to go to the people and explicitly state the list of demands and why they cannot be met, then there will be only one alternative: Return to the Lire and to dump the Euro, which will pit 40% of Italy against the other 60% and Italy against France, Germany and the BENELUX. The President of Italy would again act to dissolve the government and a constitutional crisis will ensue.

Italy will be the straw that breaks the EU camel’s back. I can feel it.


#4

I think all members of the EU are fed up with migrants ruining their nations…whether they will admit it or not. USA should take note of the turmoil and economic drains precipitated by influxes of ‘refugees’.