Brexit could trigger a $500 trillion derivatives meltdown, by forcing the EU to allow insolvent member governments and banks to write down debt. Italy is in financial crisis and is already petitioning for that concession. How to avoid collapse of the massive derivatives house of cards? Alternatives are considered.
Demonstrations in Hong Kong, China, raising demands on the procedures to be followed in city elections in 2017, have become an international issue and a source of political confusion.
The protests, called Occupy Central, have received enormous and very favorable U.S. media coverage. Every news report describes with great enthusiasm the occupation of central business parts of Hong Kong as “pro-democracy” protests. The demonstrations, which began on Sept. 22, gained momentum after Hong Kong police used tear gas to open roads and government buildings. Continue reading
Default on the public debt, nationalization of the banks, and a citizen dividend could actually save the Italian economy.
Comedian Beppe Grillo was surprised himself when his Five Star Movement got 8.7 million votes in the Italian general election of February 24-25th. His movement is now the biggest single party in the chamber of deputies, says The Guardian, which makes him “a kingmaker in a hung parliament.”
The Rome Radical Left daily, Il Manifesto, recently headed a recent article about European politics (which I have summarized here) with the name of Emile Roemer. The 50-year old Roemer is the leader of Holland’s leftwing Socialist Party (SP), a man almost unknown in much of Europe even though today he is the most popular politician in The Netherlands and favored to win national elections on September 12. A Socialist victory there would represent a major electoral turn-about in The Netherlands. The sudden rise in popularity of the leftwing Socialists in Holland is attributed to the left’s opposition to the rightwing government’s proposal for austerity policies calling for a 13 billion euro budget cut in order to reduce the national deficit to less than 3% of the GDP, as per the Fiscal Compact decided and imposed on European Union members by the non-elected technocrats of the EU in nearby Brussels…
Brother Sun, Sister Moon (Italian: Fratello Sole, Sorella Luna) is a 1972 film directed by Franco Zeffirelli and starring Graham Faulkner and Judi Bowker. The film is a biopic of Saint Francis of Assisi.
Francesco, the spoiled son of Pietro Bernardone, a wealthy textile merchant, returns home from fighting in the war between Assisi and Perugia. Continue reading
“A Debate On How To Get Out of the Euro” with Marshall Auerback, Michael Hudson, William K. Black and Stephanie Kelton in Rimini, Italy. What withdrawal from the Euro system would mean for households and businesses in Italy; how to manage savings; what would likely happen in a return to sovereign currency; how the government and National Bank of Italy could manage the change; monetary and fiscal policy; interest rates; bond markets; loss of national power due to the rules of the Stability and Growth Pact and the inability to set employment policy.
Designer Yves Béhar has teamed up with Sodastream, an Israeli company operating in violation of international law, and will be presenting a new design for the company next week in Milan, Italy. Human rights groups from Canada to New Zealand, from the US to Europe signed the letter below from Stop Sodastream Italy calling on Béhar to terminate collaboration with Sodastream.
2,181 Italians pack a Sports Arena to learn Modern Monetary Theory:
The Economy doesn’t Need to suffer Neoliberal Austerity
I have just returned from Rimini, Italy, where I experienced one of the most amazing spectacles of my academic life. Four of us associated with the University of Missouri at Kansas City (UMKC) were invited to lecture for three days on Modern Monetary Theory (MMT) and explain why Europe is in such monetary trouble today – and to show that there is an alternative, that the enforced austerity for the 99% and vast wealth grab by the 1% is not a force of nature.
The Italian Coalition Stop That Train celebrates the news that the City Council of Naples, Italy has approved a motion condemning Pizzarotti for its involvement in a project in blatant violation of international law, the Israeli high-speed train cutting through the occupied Palestinian territories. The decision of the Naples City Council, which follows that of Rho (Milan) on November 30, 2011, is a strong sign for responsible action by local authorities, in this case one of Italy’s largest cities.
The Italian Movement for Boycott, Divestment and Sanctions (BDS) Against Israel Gains Strength
Over the weekend of January 21-22, the third national meeting of the BDS movement (Boycott, Divestment and Sanctions) against Israel was held in Bologna, Italy. Continue reading
The Italian Stop Sodastream campaign exposes the Israeli company’s deceptions
The Stop Sodastream campaign received a response from Sodastream Italy, via the public relations agency Edelman, to the letter signed by over 1100 individuals and 30 groups calling on retailers and advertisers to terminate relations with the Israeli company due to its violations of international law.
Rho City Council (Milan) approves resolution condemning Pizzarotti
The Italian company condemned for involvement in the Israeli high-speed railway that crosses the occupied Palestinian territories
On 30 November, the City Council of Rho, in the province of Milan, approved a resolution expressing “moral and political condemnation of Pizzarotti & C. S.p.A. for its participation in the project for the construction of the A1 Jerusalem – Tel Aviv railway”.