News for today's 2018

<br /> <br /><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 1;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9RixnSCeAnXpMB3ntTouNYuaHagQHVVnOi8LYlaWoWVCAI_NUNyprByn7RnIVEX2NX9yZceh7lgreH_-Hk9HWL8I-BCB1UsYcTRyFQwg8y506xFmHvzZS6mouUqPsRjYwIOjOv77jUZ9E/s1600/italiaArgentina.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9RixnSCeAnXpMB3ntTouNYuaHagQHVVnOi8LYlaWoWVCAI_NUNyprByn7RnIVEX2NX9yZceh7lgreH_-Hk9HWL8I-BCB1UsYcTRyFQwg8y506xFmHvzZS6mouUqPsRjYwIOjOv77jUZ9E/s320/italiaArgentina.jpg" width="320" /></a></div><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;"><br /></span></b></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><br /></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><span style="font-size: x-large;"><span style="color: red;"><b><span style="font-family: "Times New Roman","serif";">PRODI: MAFIA AND BUREAUCRACY ARE ITALY'S WORST PROBLEMS</span></b></span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-outline-level: 1;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><b><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">ITALIANS will have their first general elections in almost five years. </span></span></b></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">The last time they went to the polls to choose politicians for the upper and lower houses of parliament was when Romano Prodi left office as prime minister in 2008.</span><span style="font-family: "Times New Roman","serif";"> Five years on and a financial crisis later, a lot has changed. </span></span><br /><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";"> </span></span> </div><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">ITALY still has the eighth largest economy in the world and the third largest in the EUROZONE. But volatility on bond markets drove it close to bankruptcy last year, while youth unemployment, according to the EUROPEAN Commission, has hit 37 percent. </span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="color: blue;"><b><span style="font-family: "Times New Roman","serif";">IF SILVIO BERLUSCONI WINS, IT COULD TRIGGER A SHOCK ON FINANCIAL MARKETS THAT WOULD FORCE ROME TO SEEK A BAILOUT</span></b></span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">Meanwhile, in the run-up to voting, ITALY'S largest investment bank, Mediobanca, has warned that if Silvio Berlusconi, its populist former leader, wins it could trigger a shock on financial markets that would force Rome to seek a bailout. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">Speaking to EUobserver, Prodi highlighted two reasons for ITALY'S economic misery. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"I give a lot of responsibility [for the crisis] to criminality, to the mafia," he said.</span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">See: <b><span style="color: red;">ARGENTINES IMMIGRANT BACKGROUND</span></b><span style="color: red;">  &  </span></span><b><span style="color: red; font-family: "Times New Roman","serif";">ARGENTINA, BARELY 30 YEARS OF DEMOCRACY, A YOUNG NATION TRYING TO FIND ITS BEARING</span></b><b><span style="color: red;"> </span></b><span style="font-family: "Times New Roman","serif";"><a href="http://news-these-days.blogspot.com.ar/2012/11/argentine-evolution.html">http://news-these-days.blogspot.com.ar/2012/11/argentine-evolution.html</a></span></span><br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2wBEWENkRMyJfpURqXXrG0XvNl42AqRB4LU9u8wgnrLG8KtSHGMTDZbNIv9uDIrL0e2SxisooGnI5MaZLsVDP1ik8jfSM-1UEP_mo0jitHfEGtte9QjaNQRDvXsjkK6KuM6qXBDRafbN0/s1600/italia.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi2wBEWENkRMyJfpURqXXrG0XvNl42AqRB4LU9u8wgnrLG8KtSHGMTDZbNIv9uDIrL0e2SxisooGnI5MaZLsVDP1ik8jfSM-1UEP_mo0jitHfEGtte9QjaNQRDvXsjkK6KuM6qXBDRafbN0/s320/italia.jpg" width="265" /></a></div></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"In ITALY you have very efficient companies and you have a lot of acquisitions by foreign countries, but no greenfield investment and no research-based investment. ITALY is not being chosen for such new initiatives. What do I mean? I mean that foreign companies are willing to buy market share in ITALY, but they don't want to take further risks because of this problem [<b>ORGANIZED CRIME</b>] we have in ITALY, even if it is limited to certain regions and even if there is an ongoing fight against it," he added.</span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">See: </span><b><span style="color: red; font-family: "Times New Roman","serif";">CRIME AND CORRUPTION ARE TWO OF THE WORLD'S LARGEST MULTINATIONAL INDUSTRIES</span></b><span style="font-family: "Times New Roman","serif";"> <a href="http://news-these-days.blogspot.com.ar/2012/09/crime-corruption-and-political-system.html">http://news-these-days.blogspot.com.ar/2012/09/crime-corruption-and-political-system.html</a></span></span><br /><br /></div><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">  </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="color: blue;"><b><span style="font-family: "Times New Roman","serif";">THE SECOND REASON IS THE SLOW PACE OF ITALIAN BUREAUCRACY.</span></b></span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"The difference between now and 20 years ago is that these days people make decisions so quickly. You see how companies move from one day to the next from the UNITED STATES to ASIA. So if you have a public administration that takes years to give permission to build a new factory, this is not compatible with the modern world. <b><span style="color: red;">These are the two problems: ITALIAN public administration and corruption</span></b>," Prodi noted.</span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="color: blue;"><span style="font-size: large;"><b><span style="font-family: "Times New Roman","serif";">APATHY AMONG YOUNG ITALIANS</span></b></span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"The traditional behaviour, the culture of this country has to change even more than it did after it entered the euro," he added.</span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">The 73-year-old centre-left politician and economist is also worried about apathy among young ITALIANS. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"They don't react. There is no reaction [to the crisis]. It is quite dramatic," he said.</span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"I have been teaching in universities for many years and I still have some seminars, but students never said to me before: 'Look, professor, I am sure I will be unemployed' or 'I am sure I will only find temporary work, if I am lucky'," he noted. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">He said the crisis has created abnormalities in the ITALIAN labour market. </span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="color: blue;"><b><span style="font-family: "Times New Roman","serif";">EU NEEDS MORE STIMULUS AND LESS AUSTERITY</span></b></span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"We have a new phenomenon in ITALY - immigration of low-skilled manpower for jobs that ITALIANS don't want to do even if there is unemployment, and increasing emigration of the most talented young people. Italians with PhDs work more and more abroad. My nephews are among them … We cannot go on this way," he noted. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">Prodi is less unhappy because young ITALIANS are emigrating to other EUROPEAN countries instead of the US.</span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">But he said the EU needs more stimulus and less austerity in order to save the prospects of the current generation. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"Honestly, I don't understand why EUROPE does not now choose a different economic policy. Look - even GERMANY is not growing. EUROPE is becoming a black spot in the world … GERMANY has a fantastic surplus in its balance of trade. Why don't they put some fuel in the locomotive?" he said. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"I hope that in the future, ITALY again becomes a country of innovation, of new initiatives," he noted. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"If you look at the balance sheets of medium-sized, family-run ITALIAN companies, they are fantastic, and this year we increased exports more than GERMANY in relative terms," he added.</span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><div class="MsoNormal" style="line-height: normal;"><span style="color: red;"><u><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";"><b>Related background Information:</b> </span></span></u></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><div class="MsoNormal" style="line-height: normal;"><a href="http://news-these-days.blogspot.com.ar/2013/01/european-democracy-at-crossroad.html"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">http://news-these-days.blogspot.com.ar/2013/01/european-democracy-at-crossroad.html</span></span></a></div><div class="MsoNormal" style="line-height: normal;"><br /></div><div class="MsoNormal" style="line-height: normal;"><a href="http://news-these-days.blogspot.com.ar/2011/11/regime-change-in-europe-from-democracy.html"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">http://news-these-days.blogspot.com.ar/2011/11/regime-change-in-europe-from-democracy.html</span></span></a></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="color: blue;"><b><span style="font-family: "Times New Roman","serif";">BANKS DOMINATE DEBATE</span></b></span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">Turning to the weekend's elections, Prodi said that even as EU politicians and market analysts look to ITALY, ITALIAN voters are showing little interest in EUROPE. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">One reason is there is little difference between the candidates in terms of EU policies. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"The basic EUROPEAN doctrine is shared by all the people in the coalition. The democratic centre-left group is pro-EUROPEAN. [Caretaker PM and former commissioner Mario] Monti is by definition pro-EUROPEAN. Even Berlusconi is basically pro-EUROPEAN. Out of the new groups, like [that of satirist Beppe] Grillo, they are more anarchic, but [EUROPE] is not really part of the debate. It is strange, but this is life," he said.</span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="color: blue;"><b><span style="font-family: "Times New Roman","serif";">THERE SHOULD BE A "WALL" BETWEEN BANKS AND POLITICIANS IN ALL OF EUROPE</span></b></span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">Instead, political campaigns are devoting attention to banks. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">ITALY was last month shocked by news that Banca Monte dei Paschi di Siena, the world's oldest still-running bank and ITALY'S third biggest lender, has over €700 million of losses on its books due to dodgy trades. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">The ITALIAN city of Siena is the bank’s largest shareholder, linking the scandal to local politicians.</span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">Prodi said that in the old days local elites could effectively oversee bank activity. But today, their involvement has no benefit due to the speed and complexity of bank transactions. </span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">He noted there should be a "wall" between banks and politicians in all of Europe.</span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"This is a problem not only for ITALY. Landesbanken are the main political problem in GERMANY, Civic banks in SPAIN … In all cases, the mixture of local political life and management of the banks is too strong," he said.</span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">From next year, the EUROPEAN Central Bank will directly supervise 150 big banks.</span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">But oversight of the rest of EUROPE'S 6,000-or-so smaller lenders will stay in the hands of national supervisors.</span></span></div><div class="MsoNormal" style="line-height: normal;"><br /></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"I am not happy that EUROPEAN Central Bank control has been limited," Prodi noted. </span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal" style="line-height: normal;"><span style="font-size: large;"><span style="font-family: "Times New Roman","serif";">"In a world where all the banks, big or small, can go to the international markets and create huge quantities of debt, how can a local-level structure make decisions about that?" he said.</span></span></div><span style="font-size: large;"> </span><br /><div class="MsoNormal"><br /></div>

ITALY AND ARGENTINA: A COMPARISON

PRODI: MAFIA AND BUREAUCRACY ARE ITALY'S WORST PROBLEMS ITALIANS will have their first general elections in almost five years. The l...

ITALY AND ARGENTINA: A COMPARISON

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