🔹Unemployment rose to 12pc
🔹youth unemployment temporarily above 40pc
🔹quarter of the manufacturing industry was gone>
🔹<Berlusconi, @LBiniSmaghi reports, conducted secret negotiations on the withdrawal of Italy from the ez in 2011
🔹Greek Prime Minister Papandreou did the same ...
👉they were forced by the banks and relevant EU forces to give up their posts before implementing it>
🔹have prevented losses for investors in France and Northern Europe and made life in the South more bearable, but at the same time
🔹they hurt Italy's industry👈 because they supported the pre-Lehman excessive wages compared to productivity>
1️⃣The first is to sneak into a transfer union ... That would make all Italy to what the Mezzogiorno is today: an overpriced transfer recipient who never again becomes competitive and must be permanently supplied from outside ...
👉Dedicato a tutti quelli che ancora credono ci vogliamo dentro😎
🔹<capital flight would have to be face with capital controls😎
🔹economy would pick up very quickly😎
🔹domestic credit relationships would remain in equilibrium😎 because they would be devalued
🔹even some foreign debt could be turned into lira and devalued>
👉Vabbè, qui si legge male la annosa questione delle CAC. In effetti convertiremo il 100pc dei Btp emessi sotto la legge italiana.
🔹there is no legal basis for their settlement after a euro exit and as
🔹leading German politicians have long termed them as "irrelevant clearing balances" anyway>
🔹<Of course, everything should be kept secret until the last second in order to prevent a flight of capital
🔹Europe will have to give Italy a lot of money to avert all that
🔹Either way, the next act of Italian tragedy begins>