News

Italian skulduggery piles pressure on Euro

29/05/2018

The Euro is coming under pressure today as a result of the latest assault on national democracy by the EU, this time perpetrated against Italy. The Italians, having prospectively put into power an EU-sceptic government, have had their plans to put Euro-sceptic Paolo Savona into the role of Finance Minister. This appointment was vetoed by President Sergio Matarella, who wants to avoid overseeing a collision course being set between the EU & Italy. The irony is of course, that a collision course has already been set, and it’s not the Italians who have chosen it. As usual it is the staunchly authoritarian EU who once again have dismissed the outcome of a democratic vote as ‘populism’, as if that word has an alternative meaning (spoiler alert - it doesn’t).  This means that Italy will likely return to the polls soon, although this has been true for most of the last 70 years. This time however, the Italian national identity has already suffered the indignity of failing to qualify for the 2018 FIFA World Cup, and anyone who adds further national insult to them at is likely to get a bloody nose for their interference. If that happens the EU would have no choice but to offer Italy anything they demand as a price for staying in the Euro, because the common currency is the mortar that holds the EU superstate dream together. Bad news for the EU, and worse news for Germany.

Share this news

Related posts

Economic 2019-07-31_FOMC.png

Countdown to FOMC on 31st of July

31/07/2019

Market expects 0.25% rate cut on 31st of July 2019

Read more
Calendar Calendar.jpg (1)

The week ahead 15.07.2019

15/07/2019

Upcoming releases next week

Read more
Stock Market US stock-exchange.jpg

Stock market rally

10/07/2019

Stock market rally after Powell transcript

Read more
Forex News yen.jpg

Dollar Yen breaks lower

24/05/2019

Dollar Yen breaks lower

Read more