Katainen, COMMISSIONER FOR ECONOMIC AFFAIRS OF THE EU HAS scrubbed ITALY, BUT FINLAND AND THE 'WORST OF GREECE

This gentleman is Katainen, EU Commissioner for Economic Affairs claims Penalty
Italy and the USA is putting Finlandi like Greece.

Katainen, who is he? Don Abbondio probably would pose this question in the comments vitriolic launched unelected Italian Prime Minister Jyrki Katainen from this fresh European commissioner for economic affairs. The answer is soon given: former Prime Minister of Finland, who just settled into his new role as European oligarch, he promptly declared that Italy does not have the right to request flexibility on European standards and should in fact be more ready and above Prone to comply with the dictates of European austerity and poverty.

Nothing new under the sun, you say, but how much less irritating to say whether such claims is the former premier of a state that in recent years has achieved results which do end up straight behind the blackboard with a lot of donkey ears well stuck in my head.

You do not believe that a state like Finland could be worse than the country of puffins? Yet it is so.

Do you think that in less than five years, the Finnish government debt has almost doubled, rising from 33.9% to 57% in 2014. Course, is less than half of what Italic, but the speed at which it is growing is alarming to say the least and , which is not insignificant, before the advent of "governments grandfather George", the Italian public debt was the one with the growth rate lower than all other nations in the euro area since the start of the 2008 crisis . After 2011, thanks to the efforts of governments Monti, Letta and Renzi has exploded and this thanks to having followed the recipes of the eu.

Some might think that with rising public debt, Finland has been able to maintain low unemployment and GDP in positive through appropriate measures to stimulate the economy.

Also in this case Finland is red and blue pencil: GDP remains below the pre-crisis levels of 2008 and is still in negative territory, while unemployment jumped to over 10% and will soon rise again, visa Microsoft announced 18,000 layoffs in Nokia. Sure, Katainen could always propose the Finns to work harder and, perhaps, to emigrate to Hanoi, where the "new" Nokia will produce its phones.

The cost of labor has increased, while productivity fell, making suddenly "virtuous" Greece in comparison with the Nordic country.

Finland has, in the last instance, all economic and social indicators typical of most of the Mediterranean countries of Scandinavia, with values ​​that would take the harsh reprimands of the oligarchs of Brussels and the finger raised to German Chancellor Merkel, perhaps with the roar background of speculation on the public debt made by banks Teutonic in case of resistance to "take medicine".

Yeah: Katainen sermon and scratching hurt even worse, but being part of the "Nordic bloc" so dear to Germany, can make the lecture Italy with impunity, without having to account for the disaster in his country.

The saddest thing, however, is that the former mayor of Florence, has not seriously banged his fists on the table, pretending to Katainen and Finland for the immediate implementation of reforms blood and tears, which are mostly demanded by us.

But, you know, Don Abbondio felt crock pot in the middle iron pots and our Prime Minister is not elected, despite some bombastic statements, it appears more and more like the character Manzoni. Which, for a country that is reeling in the worst economic and social crisis since the end of World War II, is not really good. So even a Katainen any, can afford to make us moral, without looking at the beam in his own eye.
Google translation
Source: sosimprese.info

Inferno c. ||| , v.82-84

Ed ecco verso noi venir per nave
un vecchio bianco per antico pelo,
gridando : “ Guai a voi , anime prave „

Privatization Italy: Ridiculous and Dangerous Incompetence

Privatization Italy: Ridiculous and Dangerous Incompetence
I wonder if some subsidized media will notice the figure of shit made ​​by the new phenomenon that has Italy as Minister of Economy and Finance.

Moreover, it is something very dangerous and that puts a stone TOMBSTONE any other hypothesis privatization Italian. Ok many will say, thank goodness! Well, for a moment, before you breathe a sigh of relief it would be better to note that Italy has shown yet another business GUANO A view towards foreign capital.

And at the same time, or state has given yet another rip-off citizens, Italian investors who trusted him. And I agree, cabbage to trust them, but be careful, here we are talking about small investors who have made buggered by a series of television commercials and went to subscribe for shares on the basis of what is fortunately little confidence that the Italian State Thief still manages to convey.

I remind points to the sad and horrible story of the sale of shares on the Stock Exchange Fincantieri:

The story is well known: in the public offering and sale of shares Fincantieri, at the hands of its sole shareholder of the Deposits and Loans Fund, was planned sale of 104 million shares by CDP, and the issuance of 600 million new shares, to support the development plans of the company. Of this stock offer maximum, 141 million shares were allocated to the retail public (small investors), and the remaining 563 million shares to institutional investors. What happens at the end of the placement period? You find that foreign institutional investors have booked only a dozen million shares, while the Italian institutional thirty million. Out of a total of 563 million shares to institutional destined. So what? Meletti writes:

     What does this point to the number one Fincantieri, Giuseppe Bono? Do not lose heart and run for cover. Remove the offering of shares of the Deposit and Loans for sale, and it also reduces the capital increase, so that the placement is reduced from 704 million to 450 million shares. Then fixed the price at minimum fork, 0.78 euro. But the shot of the master is called claw-back. This is the clause that allows, at any time, move the weights of placement among institutional and retail investors. International funds have good reason to stay away from Fincantieri actions? Very well, without investigating further they give up the Italian retail investors. So go to the institutional 49 million shares (him had proposed 563 million), and the poor small private investors who still trust their bank come to 401 million shares (313 million euro on the nail) instead of the proposed 141 million. One might ask: but if depositors 400 million shares have asked the, what's wrong? There is no one warned them that the international funds of those actions were spitting on us. Anyone who has bank branches knows the refrain that the officials are trained to repeat in exchange for a premium for each share placed: "Look, it's a bargain garnde, the Fincantieri will be snapped up, the demand will be three times the offer, then she asks three lots least four thousand shares, so when you go to the allotment will have its package verbatim "

Well so many beautiful small shareholders to be mowed for good.

In fact, after the price of decency Fincantieri has magically kept on the prices of placement for a couple of sessions and via the parachute (bet that was placed by the placing banks
It was serene, this is just the beginning of shearing.

Now, with what face Padoan goes around talking about the stock market and sales of state companies?

What are the credentials that Padoan screams in Europe?

Pull Parcels to the citizens and the (few) institutions that have been?

Wow.

And look, I know, sprouts are those who have trusted the State, it is true. But I do not find anything nienete fun and even useful, just another demonstration of international jurisdiction.

Fonte:http://www.rischiocalcolato.it/2014/07/privatizzazioni-ditaglia-padona-dimostra-tutta-sua-ridicola-pericolosa-incompetenza.html
Translated by Google.

Истина где-то: деньги как раз вексель, и банки внедряют в нем

Еще в 1930-е годы, Генри Форд, как предполагается, отметил, что это была хорошая вещь, что большинство американцев не знают, как банковская действительно работает, потому что, если они сделали ", там бы революция до завтрашнего утра".
На прошлой неделе, что-то замечательное произошло. Банк Англии пусть кошку из мешка. В статье под названием " Создание Деньги в современной экономике ", в соавторстве с трех экономистов из монетарного анализа дирекция Банка, они прямо заявил, что наиболее распространенными предположения о том, как банковских работ просто не так, и что вид популиста, неортодоксальные позиции более обычно ассоциируется с такими группами, как Занимайте Уолл-стрит являются правильными. При этом они, по сути бросил всю теоретическую основу для экономии из окна.
Чтобы получить представление о том, как радикально новый позиция Банка является, рассмотрим традиционный взгляд, который по-прежнему является основой всей почтенной дискуссии по общественной политике. Люди вкладывают свои деньги в банках. Банки затем одолжить эти деньги под проценты - либо потребителям, или предпринимателей, готовых инвестировать в некотором прибыльное предприятие. Правда, дробная резервная система действительно позволяет банкам одалживать значительно больше, чем они держат в резерве, и правда, если сбережения не хватает, частные банки могут обратиться за занимать больше от центрального банка.
Центральный банк может печатать столько денег, сколько он хочет. Но это также осторожны, чтобы не печатать слишком много. На самом деле, мы часто говорили, именно поэтому независимые центральные банки существуют в первую очередь. Если правительства могут печатать деньги сами, они, несомненно, потушить слишком многое из этого, и в результате инфляция будет бросить экономику в хаос. Такие учреждения, как Банк Англии или Федеральной резервной системы США были созданы, чтобы тщательно регулировать денежную массу, чтобы предотвратить инфляцию. Вот почему им запрещено напрямую финансировать правительство, скажем, покупая казначейские облигации, но вместо финансировать частную экономическую деятельность, что правительство лишь налоги.
Именно это понимание того, что позволяет нам продолжать говорить о деньгах, как будто это ограниченный ресурс, как бокситы или нефти, чтобы сказать "там просто не хватает денег" для финансирования социальных программ, говорить о безнравственности государственного долга или государственных расходов "вытеснения" частный сектор. Что Банк Англии признал на этой неделе, что все это на самом деле правда. Цитата из собственной начальной резюме: "Вместо того, чтобы банки приема депозитов, когда домохозяйства сохранить, а затем кредитования их, банковское кредитование создает депозиты" ... "В обычные времена, центральный банк не устанавливает сумму денег в обращении, и при этом центральный банковские деньги »умноженное вверх" в более кредитам и депозитам ".
Другими словами, все, что мы знаем, это не просто так - это в обратном направлении. Когда банки выдают кредиты, они создают деньги. Это потому, что деньги на самом деле просто долговая расписка. Роль центрального банка является председательствовать на правовой порядок, который эффективно предоставляющую банкам исключительное право создавать долговые расписки определенного вида, те, которые правительство будут признавать в качестве законного платежного средства на его готовность принять их в уплате налогов. Там на самом деле никаких ограничений на сколько банки могут создавать, если они могут найти кого-то, готового взять его. Они никогда не будут пойманы Короче говоря, по той простой причине, что заемщики не, вообще говоря, взять деньги и положить их под матрасы; в конечном счете, любые деньги через банковские кредиты из просто в конечном итоге обратно в каком-то банке снова. Так что для банковской системы в целом, каждый кредит просто становится другой депозит. Более того, поскольку банки должны приобрести средства у центрального банка, они могут заимствовать столько, сколько они хотели; все последний действительно установлен размер процентов, стоимость денег, а не его количество. С начала рецессии, центральные банки США и Великобритании уже сократили расходы практически до нуля. В самом деле, с «количественного смягчения» они были эффективно насосных столько денег, сколько они могут в банки, не производя никаких инфляционных последствий.
Что это означает, что реальное ограничение на количество денег в обращении не то, сколько центральный банк готов выдавать кредиты, но сколько правительство, фирмы, и рядовые граждане, готовы одолжить. Государственные расходы является основной движущей силой во всем этом (и бумага может признать, если вы внимательно его прочитать, что центральный банк делает финансировать правительство, в конце концов). Таким образом, нет никаких сомнений, государственных расходов "вытеснения" частных инвестиций. Это с точностью до наоборот.
Почему Банк Англии неожиданно признать все это? Ну, одной из причин является, потому что это очевидно. Работа Банка является на самом деле запустить систему, и в последнее время, эта система не работает уже особенно хорошо. Вполне возможно, что он постановил, что поддержание фантазии земли версию экономики, которая оказалась настолько удобна для богатых просто роскошь, больше не могут себе позволить.
Но политически, это происходит огромный риск. Просто обратите внимание, что может произойти, если держатели ипотечных понял деньги банк одолжил их нет, на самом деле, жизнь сбережения какой-то экономного пенсионера, но что-то банк просто смахнул в существование через его владения волшебной палочки, которые мы, общественность, руками к ним.
Исторически сложилось, что Банк Англии, как правило, быть лидирует, застолбить кажущейся радикальные позиции, что в конечном счете становятся новые ортодоксы. Если это то, что происходит здесь, мы могли бы в ближайшее время быть в состоянии узнать, если Генри Форд был прав.

Fonte: http://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity

THE LEFT YOU THINK IT IS POSSIBLE TO END The AUSTERITY AND MAINTAIN THE EURO BUT 'A TRAGIC ERROR (PROF. NINO GALLONI)

Sunday, June 29, 2014

Professor Nino Galloni, economist, former lecturer at the Catholic University of Milan and the LUISS University of Modena, tells what developments await Europe after the election, but most importantly, what will happen in Italy, the crock pot is the Old Continent.

Extraordinary interview. Read.

A month before the European elections does not seem to have changed much, except for the fact that the EPP and PES have thrown the mask of fake opposition they have had in recent years and will begin to govern together also in Brussels. What are your predictions, economic and political, for the next few months?

The recent case of Libya proves, beyond any reasonable doubt that in recent months the European Union has made ​​giant steps back, at least for those who believed in the project, and tend to a geopolitical isolation and compared with the major strategies being carried out by the United States, Britain and Saudi Arabia on the one hand, both the new realities of the emerging countries (China, Russia, India, Brazil ...), on the other.

Europe has lost all trains potential and the release of Alfano as interior minister proves it: "you bombed Libya and now leave us alone." It 'a serious situation. From the storm in the glass of water to the European elections has emerged as the vast majority, over 80% l'', the electorate is against austerity. But, prevails, especially in the PES, the idea that we should go out dall'austerity, but remain in the euro, so in this Europe. This position presents irresolvable contradictions, without prejudice to the recent interventions of the ECB. In the short and medium term, in other words, I predict an increase in the social conflict that will not explode in uncontrollable levels only if the monetary measures of the ECB will have an effect on the real economy, as it hoped Dragons. If this does not happen, the crisis will go behind the current Italian government and the main party of the PES in Europe, in both cases, the PD Renzi.

What are the choices to be made immediately in the emergency current company?

Making a public bank in Italy to collateralize loans of public administration that would be, for what I read in the press of the ECB eligible. It may well manage in time about 600 billion Euros with which to make plans for hydrogeological, school construction, a real working plan, the income of citizenship, research and development. Without these resources, it is obvious that we can not really get out of the crisis. The euro has been done to the austerity and austerity for the euro: If you are unable to remedy this contradiction, reducing the conditioning of the Treaties, not if it comes alive.

The emergency I have studied at the national, rather than European. And in Italy you can immediately issue of paper money, the State may issue vouchers, vouchers, certificates of credit erariali to pay its debts denominated in Euros but they are not legal tender, after which this fiduciary money goes to circulate among individuals, restarting the economy and then the state accepts it in payment of taxes and duties. If this is done at the beginning of the accounting year and has an effect on GDP will not increase the deficit. If Italy could invest in this way, 50-100 billion a year of its claims processed in Euros to make investments, then certainly that would incorporate competitiveness and efficiency.

At European level, everything remains at the theoretical level: impose the fact that investments are outside of Maastricht would be a great step forward, but in theory, as it is theoretically also say leave the euro to return to currency devaluations, because the 'EUR was just done to prevent Italy devalued. A bill are the theoretical discourses of esteemed colleagues, I share the analysis and also the solutions, but only at the level of theory and academia. In practice, however, we must confront the fact that the single currency was created to prevent Italy from being too competitive.

In the present context, what is the country that could put a short ultimatum for participation in the euro zone?

If you do not thinks so it comes out: save us all if we accept the same rules and the same logic for the next. If Germany wants un'austerity Limited for themselves and for all the other Europeans (without selecting for the East) and France wants to protect itself, but not for the others it comes out. The real change of views, attitudes, mentality: selfishness leads only to destruction, wars, violent social conflict, barbarism.

Believes, however, that there is a country where the situation is most at risk?

Certainly in France, where social tensions are at breaking point and even Marine Le Pen could prove to be suitable for the leaders to get out, despite his statements altogether moderate and somewhat acceptable. The risk is that other forces take over. Even in Italy can be seen in both M5s on the bright side, ie you have moved a whole series of new energies, but as well the same Grillo said, the fact that he had appeased the degeneration of the protest still potentially out of control ready to ignite. If the 5 Star Movement talks with Nigel Farage, the scenario is post-European, vice versa, the paradox is that with Le Pen may come to a confederation of sovereign states invoked even by Putin. This presupposes, in my opinion, at least a dual circulation. Virtual currency, accounts and offsets and international money real, popular, nationwide.

Interview conducted by Alessandro Bianchi for Antidiplomatico. It - thank you.