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How will the Italian crisis affect the EU. |
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#26 |
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Join Date: Mar 2013
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It is hardly a crisis as things are exactly as they were before the referendum on the constitution and all it really means is things will stagger on as before.
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#27 |
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Join Date: Nov 2002
Location: Dublin
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It depends on who wins the following election
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#28 |
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Great news another nail in the EU coffin.
![]() ![]() Yet the EU is still up and running. |
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#29 |
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Join Date: Nov 2007
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They have had more than one government per year since the end of WW2.
Its their normal situation. The EU will cope because like most countries, Italy has better civil servants than politicians. |
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#30 |
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Join Date: Mar 2014
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They have had more than one government per year since the end of WW2.
Its their normal situation. The EU will cope because like most countries, Italy has better civil servants than politicians. People have already mentioned that their level of debt and size of their banks far exceeds that of Greece, and the EU are already finding it hard to maintain Greece in the EU. I can only imagine, that the Italians are going to revolt, when they themselves are faced with worst than Greek style austerity measures. |
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#31 |
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Join Date: Jun 2005
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When the Italian banking system collapses, what will coping involve? The EU bailing Italian banks out?
People have already mentioned that their level of debt and size of their banks far exceeds that of Greece, and the EU are already finding it hard to maintain Greece in the EU. I can only imagine, that the Italians are going to revolt, when they themselves are faced with worst than Greek style austerity measures. |
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#32 |
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Join Date: Mar 2013
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Let them sink. They are evidently incapable of running a country. No bail outs. Nothing.
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#33 |
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Join Date: Mar 2007
Location: Hampshire
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and until recently "led by a clown" would have fitted too!
None of this will get fixed until Brussels take their heads out of the sand and start coming up with proposals to address the problems they have helped to create. |
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#34 |
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Join Date: Nov 2007
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When the Italian banking system collapses, what will coping involve? The EU bailing Italian banks out?
People have already mentioned that their level of debt and size of their banks far exceeds that of Greece, and the EU are already finding it hard to maintain Greece in the EU. I can only imagine, that the Italians are going to revolt, when they themselves are faced with worst than Greek style austerity measures. Its what they always do to save the "system." Politicians are just window dressing. That referendum is just a side show. |
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#35 |
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Join Date: Mar 2014
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Bankers will talk to bankers and sort it out.
Its what they always do to save the "system." Politicians are just window dressing. That referendum is just a side show. Not to forget, once the ECB gets involved, the shareholders and bondholders, all have to take the losses apparently, with accordance to EU guidelines. These shareholders and bondholders, are all normal Italian citizens, meaning many will face possible financial trouble. A big reason why investors aren't touching the Italian banks, as they would lose all their money put into shares and bonds. There's no money within the Italian banking system, so they can only rely on outside money. The investors are pulling out, leaving only the EU and ECB bailout. |
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#36 |
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Join Date: Jun 2005
Location: Hell.
Posts: 9,696
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The Italian ecomny was in a far better situation than ours prior to them bailing out the pigs nations.
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#37 |
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Join Date: Mar 2014
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What is 'the pigs nation'?
Italy Ireland Greece Spain https://en.wikipedia.org/wiki/PIGS_(economics) |
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#38 |
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Join Date: May 2006
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and until recently "led by a clown" would have fitted too!
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#39 |
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Join Date: Mar 2013
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Better than being led by crooks, as most political parties are, in Italy, UK and probably all European countries. It says something about the state of politics when so many turn to a comedian!
the last truely corrupt politician that i can think off is geoff hoon |
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#40 |
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#41 |
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Join Date: Mar 2013
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Thanks, never heard that before. Alhough I don't quite understand how Italy's finances were better than ours until they had to bail out failing economies that includes their own failing economy.
Italy similarly to the uk is divided one half is poor the other very wealthy. However unlike southern england northern italy is a manufacturing powerhouse similar to the german regions. the eu forced them to bail out spain ect to make the italian banks more reliant on the ecb rather than the ecb bailing out those countries directly. |
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#42 |
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Join Date: Dec 2004
Location: Central London
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What's it got to do with you if other countries want to be in a currency union?
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#43 |
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Join Date: Nov 2002
Location: Dublin
Posts: 51,589
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It isn't so much about what they want to do it is being allowed to do what they need to do, one of the founding fathers of the Euro Otmar Issing recently said the Eurozone has a big problem and that is that once in they do not let you leave and that not allowing an exit strategy was a mistake. He said they needed to allow countries to be able to take a break or leave the Euro entirely and unless there are reforms it would eventually lead to its collapse.
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#44 |
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Join Date: Jul 2016
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Is this the beginning of the end ? http://www.forbes.com/sites/schifrin.../#3bf101809945
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#45 |
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Join Date: Sep 2007
Posts: 146
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Do you mean it is like the song 'Hotel California' ?
'You can check-out any time you like, But you can never leave!' |
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#46 |
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Join Date: May 2004
Location: Storbritannia
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How will the Italian crisis affect the EU.
Is this the beginning of the end ? http://www.forbes.com/sites/schifrin.../#3bf101809945 Just like RBS and Lloyds in the UK, the issues that face the Italian banking sector are solvable but they will require state intervention and a year or so to stabilise and sort out. Therefore, and despite the vile and bitchy wishes displayed in this forum: 1. Italy will not go under; 2. The European Union will not implode; 3. The euro currency will not collapse. |
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#47 |
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Join Date: Nov 2007
Posts: 20,480
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While there is regrettably much spiteful and nasty delight about Italy's situation, Renzi will be acting as a caretaker prime minister for at least another week and then President Sergio Mattarella will decide what to do - call an early election or, perhaps more likely, appoint another caretaker prime minister until the scheduled date for the general election which would provide for a more stable situation.
Just like RBS and Lloyds in the UK, the issues that face the Italian banking sector are solvable but they will require state intervention and a year or so to stabilise and sort out. Therefore, and despite the vile and bitchy wishes displayed in this forum: 1. Italy will not go under; 2. The European Union will not implode; 3. The euro currency will not collapse. And no amount of flag waving or singing "Rule Britannia" would save us, because like it or not, our economies are intimately linked. And financially and commercially there is no such thing as independence. |
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#48 |
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Join Date: Nov 2002
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While there is regrettably much spiteful and nasty delight about Italy's situation, Renzi will be acting as a caretaker prime minister for at least another week and then President Sergio Mattarella will decide what to do - call an early election or, perhaps more likely, appoint another caretaker prime minister until the scheduled date for the general election which would provide for a more stable situation.
Just like RBS and Lloyds in the UK, the issues that face the Italian banking sector are solvable but they will require state intervention and a year or so to stabilise and sort out. Therefore, and despite the vile and bitchy wishes displayed in this forum: 1. Italy will not go under; 2. The European Union will not implode; 3. The euro currency will not collapse. |
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#49 |
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Join Date: Mar 2014
Posts: 1,710
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Looks like Government bailout and nationalising, it is then. As every investor ran away as fast as they could. http://www.bbc.co.uk/news/business-38235013 It's suggested, that the most troubled bank, Monte dei Paschi, is going to need €2bn to prop it up apparently. The Italian government are looking to borrow €15bn too. Quote:
La Stampa newspaper had reported that Rome would be asking for €15bn (£12.7bn; $16.1bn) from the European Stability Mechanism (ESM) to help the Italian banking system.
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At the same time, Reuters quoted unnamed sources as saying that the government would take a €2bn controlling stake in Monte dei Paschi after the prospect of a private recapitalisation receded.
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#50 |
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Join Date: May 2004
Location: Storbritannia
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Looks like Government bailout and nationalising, it is then. As every investor ran away as fast as they could.
http://www.bbc.co.uk/news/business-38235013 It's suggested, that the most troubled bank, Monte dei Paschi, is going to need €2bn to prop it up apparently. The Italian government are looking to borrow €15bn too. |
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