Italian General discussion

[PSOL]

Italian costs to borrow credit is rising.

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https://www.reuters.com/article/us-italy-budget-banks-lending-analysis/italian-families-firms-feel-heat-of-rising-bank-loan-costs-idUSKCN1MZ293

I worry that Italy may slump back into crisis if drastic reforms on taxes and corruption are not rooted out.good luck as the recent government is even more corrupt than the last; there has been a video that showed the connection of the Italian League to connections with corruption with the Mafia. I’ll try to find the report.

[PSOL]

This is all in the backdrop of the PM assuring that Italian banks are fine. This is after the ECB downplayed concerns over the stability of the European Union.
https://www.reuters.com/article/us-italy-banks-di-maio/di-maio-says-italian-banks-situation-under-control-government-monitoring-idUSKCN1MZ2D6

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The ECB statement
https://www.reuters.com/article/us-ecb-policy/ecb-sticks-to-stimulus-exit-downplaying-bunch-of-uncertainties-idUSKCN1MY32N

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[PSOL]

Looks like the situation is escalating with calls by Di Maio saying the ECB is

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https://www.reuters.com/article/us-ecb-policy-italy/ecbs-draghi-defends-his-independence-amid-attacks-from-italy-idUSKCN1N01ZA?il=0

This is all occurring at a time in which all the other members are discussing Italy, the parallels to the move against Berluscioni are striking.

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If the Italians backtrack from this the Lega-M5S coalition is dead, along with long term growth for any party.

[PSOL]

Meanwhile Italian transport workers are on strike. The timing is near a referendum to privatize the transport network.
https://www.reuters.com/article/us-italy-strike/italians-face-disruption-as-transport-workers-go-on-strike-idUSKCN1N01QL

[PSOL]

https://www.reuters.com/article/italy-ratings-sp/update-1-sp-leaves-italy-rating-unchanged-but-lowers-outlook-to-negative-idUSL8N1X67LT?il=0

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There were also statements disputing the official government that there is a strong positive outlook on GDP growth.

[PSOL]

Protests against the M5S mayor of Rome ongoing, due to the failing infrastructure.

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[PSOL]

Di Maio asks for unity as he renegades on the wishes of the M5S electorate.
https://www.reuters.com/article/us-italy-5star/italys-di-maio-warns-against-party-divisions-after-pipeline-u-turn-idUSKCN1N31ZT

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I suspect the movement to collapse by next election. The only question now is who will suck up the majority? Lega? Berluscioni? PD?