Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Rods2 on 02 March 2013, 23:01:45
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Beppe Grillo's party is their equivalent of UKIP, a Eurosceptic party, anti-Euro party. His protest party was mean't to get next to no votes in their recent general election, as protest parties only get votes during by-elections apparently (somebody should have also told the Labour party that in the early 20th century), except it didn't work out like that where he got 25% of the votes and holds the balance of power. Like Nigel Farage who made lots of money in the city and understands finance. Beppe although he works as a comedian, he is also a qualified accountant! :y :y :y :y
http://www.telegraph.co.uk/news/worldnews/europe/italy/9904270/Beppe-Grillo-says-Italy-may-soon-have-to-pull-out-of-euro.html (http://www.telegraph.co.uk/news/worldnews/europe/italy/9904270/Beppe-Grillo-says-Italy-may-soon-have-to-pull-out-of-euro.html)
He is now pushing hard for an Italian Euro exit, a default on the 127% of GDP debt to get the country growing again. Needless to say this has got EU officials butts twitching, because if it happens Italy will almost certainly make a success of it, because apart from their massive sovereign debt, their economic fundamentals are very good (better than the UK). They are currently running a budget and balance of payments surplus with their biggest problem being the EU / Government sharp contraction of over 3% of GDP, engineered by the Mario Monti EU Stooge Party, which has caused their current recession. To avoid a recession it is generally accepted that a Government contraction of an economy should not be more than 1%, which is what the UK is running at, which is why our economy is bumping along the floor.
Now if Italy make a success of by exiting the Euro, where will that leave Greece, Spain, Portugal and Ireland and probably France at some point in 2013? ::) ::) ::) ::) ::)
Hence, the EU officials are beginning to have a squeaky bum time. :y :y :y :y
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Roll on :y
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Interesting times ahead in Italy. ;)