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European leaders begin toppling; Is Obama far behind?
Topic Started: Nov 9 2011, 03:51 AM (128 Views)
Pat
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Fire & Ice Senior Diplomat
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When you spend too much and if affects the financial markets, threatening the world economy, a point comes where those who won't support austerity measures aimed at getting a handle on dept and spending, must go. Greece and now Italy are at that point. Angered German, French and other peoples are livid over being asked to bail out the irresponsible members of the union.

I believe we are at that point here. People are fed up with big spending leaders and their ability to continue on with the status quo is being threatened and outright confronted by a growing majority. You can't keep following a path to socialism and ruin without it affecting your popularity and eventually your job. That's where Obama finds himself now, and although he could resign, he won't, and thus he will be tossed out on his ear if he doesn't use the next year to change how he leads. This is my opinion, but as I view the world scene, I'm more comfortable daily that my prognosis is right.

http://www.ft.com/intl/cms/s/0/ea9fcdfa-09ed-11e1-8d46-00144feabdc0.html#axzz1d91JLdXs

Berlusconi set to resign

By Guy Dinmore and Giulia Segreti in Rome and David Oakley and Tom Burgis in London
Silvio Berlusconi at the G20 SummitGetty

Silvio Berlusconi, Italy’s embattled prime minister, signalled that he would resign after parliament passes an upcoming financial stability law that will implement fresh austerity measures demanded by the European Union. The news came after Mr Berlusconi lost his absolute majority in parliament and came under intense pressure from his allies and the markets.
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MrsS
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It`s about time that Berlusconi resigned!!
He didn`t govern that beautiful country Italy - he ruined it. :tantrum:

Just recently I read an interview with Nunzia Penelope; she published a book "Stolen Money". After reading the interview, one wonders that it took so long for Italy to sit on the brink of collapsing.

I found an article in English - interesting read.

Quote:
 
...how to fill the Italian debt as soon as possible?

The answer is not complicated, as economic journalist Nunzia Penelope pointed out in her book Soldi Rubati (Stolen Money) According to her analysis, every year 400 billion euros are not declared. More than half of the “stolen money” is made of tax evasion (120 billions) and criminality, especially the Mafia (135 billions). Only 10% of the “stolen money” (40 billions) would allow the government to reach the goal of the balanced budget. Let’s fight tax evaders to save the country, the writer argues. This operation is part of a measure proposed by the Italian national Il Fatto Quotidiano, which is being studied by Italian opposition parties. Of course, this measure is not enough to recover Italy’s economy but it’d be a great start.

So, why none of the austerity measures that the Italian government has proposed so far are aimed at the destruction of tax evasion? Because of Berlusconi’s conflict of interests. Tax evasion is undoubtedly a chronic disease in Italy but the black economy has strengthened thanks to Berlusconi’s political system. Let’s face it: over the last 10 years Italy has been led by Berlusconi’s governments for 8 years. Berlusconi has never fought tax evasion because he knows that most of his supporters don’t like to pay taxes (he doesn’t either).



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