UK Would To Be Forced To Pay $63 Million For New EU Parliament Building

 

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If a plan to redevelop the European Parliament building, one of the most opulent buildings ever constructed and less than 30 years old, is approved before the UK transiton period ends in 2020, the British taxpayers will have to to share the multimillion costs for new building, which the UK won’t use or need after leaving the European Union.

The $487 million reconstruction of Brussel’s European parliament buildings will not be started until after Brexit day, but according to EU lawyers what maters is the date the project is approved. If we get caught it may add up millions to the UK’s multibillion divorce bill for leaving the European Union.

According to the Times, the revamp of the EU building, finished only in 1993 at a total cost $1.2 million, is designed to separate the MEPs from visitors, press and other public they accidentally mix with due to the current structure. This is what is described as “far from ideal by the cited officials.

Apart from ensuring members do not have to rub shoulders with ordinary mortals the plan will also give them a new more luxurious restaurant and kitchen, according to the cited internal documents.”

 

There are security reasons for the upgrade according to EU freeloaders, and the building was found unsafe after ceiling in the debating chamber collapsed; five years ago and structural problems were detected.

The preliminary plan suggests two options. According to the Times, which cited internal documents, the preferred one is demolishing the block and building it from the scratch, which will cost $46 million more than refurbishment. The confidential papers state that the final decision is to be taken in “the second semester of 2019,”after the European elections next May over fears of public criticism and being exploited by the euro-sceptics.

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Greek Government Survives No Confidence Vote in Parliament

greek-parliament-photo-hellenic-parliament-aliki-eleftheriou

via AFP

Greek Prime Minister Alexis Tsipras managed to overcome a no-confidence vote in parliament on Saturday, creating conditions for the signing of an accord with Macedonia to settle a long-term name dispute.

The vote was initiated by the opposition New Democracy party, which blamed him for making too many concessions over the agreement, but repelled by Tsipras supporters.

During the vote, thousands of Greeks gathered outside the parliament building, urging the Prime Minister to resign. Police used tear gas in the center of Athens against the group of protesters who tried to break into the parliament, the Athens news agency AMNA reported Saturday.

Several dozen people protesting against the agreement on the new constitutional name with the former Yugoslav Republic of Macedonia tried to climb up the stairs to the parliament building in Syntagma Square, and the police used gas to stop them, the agency reported.

The no-confidence vote initiative failed to reach its goals as Tsipras government has 154 out of 300 in the parliament.

Germany’s Migrant Crisis To Bring Down Merkel

Weekly protests by the PEGIDA movement showed German citizens feelings about Merkel’s immigration policies (Picture:  der-kleine-akif.de )

 

Longstanding disagreements on migration policies between German Chancellor Angela Merkel’s crypto – socialist Christian democrat Union (CDU) and her Bavarian allies the traditionally conservative Christian Social Union (CSU)  have led to a crisis that could potentially unseat the long serving German leader after thirteen years in the driving seat.

The coalition of the Christian Democratic Union (CDU) led by Chancellor Merkel and the Bavarian Christian Social Union (CSU) led by interior minister Horst Seehofer was plunged into crisis last week over differences on mass migration, when Seerhofer openly challenged Merkel’s policy of  admitting all dark skinned arrivals at Germany’s borders, which has resulted in a wave of lawlessness as terrorists, murderers, rapists and members of organised crime networks have been allowed to settle in Germany.

CSU policy makers have demanded that Germany should be able to reject migrants at the border of the country if they have no basic identity documents such as a passport or national identity card, if they are already registered as refuges in another country but want to get into Germany, where state benefits are more generous, or have been refused refugee status or deported for criminal offences previously, but Merkel believes turning them away undermine the EU’s open borders Schengen Area.

Most German’s however, believe that allowing convicted rapists who have been deported, back into the country because border police are not allowed to check the identities of people crossing the border, only for them to commit further sex crimes withing weeks of arriving (as has happened in several documented cases,) is sheer insanity.

The Bavarian party leader has threatened to use his powers as interior minister to defy Mertkel and Brussels and order that the border be secured — a move which Merkel has already tried to block. Should The Chancellor try to sack him,  the almost inevitable result would be the CSU walking out of the coalition, and the fragile ‘grand coalition’ collapsing.

Germany is currently admitting around 11,000 asylum seekers every month, according to The Times.

 

German Government In Crisis After Coalition Rebellion Over Immigration

Hot on the heels of Italy’s rejection of EU federalism and the open doors approach to immigration and with the fragmentation of Spain and the shambolic attempts to bully Britain into abandoning Brexit ongoing, Europe has another immediate political crisis on its hands, and this one could be the big one that rips the economic heart out of the EU.

The Wall Street Journal reports today, a rebellion over immigration in German Chancellor Angela Merkel’s conservative bloc is threatening the stability of her fragile coalition. Merkel’s weekend decision to veto a plan by her interior minister aimed at controlling and reducing illegal migration, and the minister’s refusal to back down, has as we reported earlier this week, already shattered the fragile unity in her coalition between conservative backers and opponents of her liberal asylum policy, just months after the ramshackle coalition government was cobbled together.

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Chancellor Angela Merkel and Interior Minister Horst Seehofer are in a standoff over immigration. Picture Source: Zero Hedge

With neither side giving way  Merkel faced a showdown within her conservative camp over the the future of immigration policy that threatens her political future, because she has committed herself publicly to continuing her ‘open borders’ approach. The Local reports, after late-night talks failed to offer a resolution to the heated immigration dispute, a parliamentary session was suspended Thursday to allow the rival camps confer on strategy.

Specifically, Merkel is facing a rebellion from her hardline Interior Minister Horst Seehofer, who demands that German border police be given the right to turn back migrants without identity papers or who are already registered elsewhere in the European Union. The chancellor fears that such a move would be seen as stoking the wave of nationalist and anti EU feeling that has swept across the EU since the immigration crisis came to the fore in 2015 and be seen as Germany abandoning frontline Mediterranean countries such as Italy and Greece, after forcing unwelcome immigrant quotas on them. With Poland, Hungary, the Czech Republic, Slovakia and the balkan states already at loggerheads with Brussels over it’s authoritarian handling of the crisis,  Merkel has urged a negotiated EU response instead.

The top-selling German newspaper Bild argued that “if no agreement is reached, Angela Merkel must face a vote of confidence and every lawmaker must decide … Keep going with Merkel’s way or face an adventure called fresh elections.”

Meanwhile, Augsburger Allgemeine reported on Thursday that Seehofer’s CSU is considered breaking off their alliance with the Merkel’s CDU in the Bundestag. In other words, an outright rebellion within the government, ending the ruling coalition.

The AA quoted an unnamed senior figure in the CSU who said “we aren’t far away from a split. It is touch and go for our united Bundestag faction.”

The tensions have been building for years: Seehofer, from Bavaria state’s CSU party, has long been harshly critical of Merkel’s decision to open German borders in mid-2015 to a mass influx of over one million asylum seekers. At the height of the crisis, tens of thousands of people fleeing war and misery in Syria, Iraq and other countries crossed the Austrian border into Germany per day in the Alpine state of Bavaria.

The consequences are well known: the mass refugee arrivals, together with numerous high-profile crimes committed by migrants and terrorist attacks by ISIS-sympathizers since, sparked the rise of Germany’s anti-immigrant AfD party, which entered parliament last year, upending German politics while support for Germany’s establishment parties cratered.

As positions in Merkel’s latest domestic battle hardened, the CSU’s Bavarian state premier Markus Soeder said that “in immigration, we must no longer do things by halves. We must think about the local population, not just the rest of Europe.”

What makes the rebellion especially surprising is that Merkel’s CDU and the more conservative CSU are traditional sister parties, but the emotional immigration issue has opened a rift between them that is deepening as the CSU faces an electoral threat by the AfD in a state poll in October.

In sharp contrast to Merkel, Seehofer has voiced open sympathies for right-wing populist governments that are tough on immigration, from Hungary to Austria and Italy. When Seehofer met Austrian Chancellor Sebastian Kurz on Wednesday, Kurz announced that the interior ministers in Vienna, Rome and Berlin had formed an “axis of the willing” to combat illegal immigration.

Which is just the thing Merkel, and her liberal, globalist influencers who include George Soros and, hates to hear. Recent developments in world politics, from the Brexit vote and Donald Trumps shock victory in the 2016 US presidential election and the gains made by nationalist parties in elections throughout 2017, the inclonclusive German election last September that left Merkel stranded, at the mercy of her coalition parties to the victory of Eurosceptic Italian parties and the vote by the Catalan province of Spain to secede from the national government all combine to suggest the game is up for the globalists. Globalisation could only ever benefit the rich and powerful.

Top Academic: Muslims Would Not Tolerate Multiculturalism in Islamic Countries
Leading Iranian academic Afshin Ellian has warned that cultural Marxist delusions of “multiculturalism” are a one-way street as left wing activist in the secular Christian nations of the west clamour for appeasement of Islamic extremists. Muslims in Europe oppress historic minorities in their own lands and have no intention of showing “tolerance”

German Justice Minister Runs From Stage As Angry Audience Members Yell “TRAITOR!”
The peoples’ pushback against European federalisation and genocide of Europe’s white working classes by flooding nation states with third world immigrants continues to gather pace as, with the onset of warmer weather, the flow of illegal immigrants into Europe starts to increase towards last year’s levels.

Disillusionment With EU Grows as Swedish Support Slumps By 30%
A new opinion poll carried out on support for the European Union in Sweden has produced some shock findings as a massive turnround among Swedish voters probably due to mass immigration and migrant related crime waves in cities. From being one of the most solidly pro-EU member states, Sweden now has a substantial majority against membership of the EU.

A Closer Look At No – Go Zones For Europeans In EU’s Notorious Migrant Districts
In the wake of the latest terror attacks in a European city, (Brussels this time) it seems everybody in the EU except for the politicians and senior bureaucrats whose ineptitude and arrogance caused this mess, is now aware of the scale of problems for European socities emanating from the Islamic enclaves that have been allowed to develop by authorities more interested in being politically correct that serving the people who pay them.

Immigrant criminals and Swedish criminals are viewed differently in the eyes of Swedish law.
We ask why it is, in Sweden, that when a Swede kills two immigrants it is an act of terrorism that shames the nation, but when an African immigrant kills a Swedish mother and her young child, in the eyes of the government it is somehow the victim’s fault? The big concern is that, given the desperation of our Conservtive and Labour party leaders to make us more European, such politically correct insanity will be inflicted in Britain next

Starting Pistol Fired In Race To Succeed Merkel
While the odds of Merkel being deposed by a putsch in her own party may seem slim, they have been improved vastly by her party’s monumental failure in German state elections on Sunday, with her migration policy as the rationale for huge numbers of voters abandoning the CDU for the anti – integration, anti – immigration AfD party.

Senior German Government Figure Calls For Mandatory Pork Ban In School, Government Canteens
The gulf in attitudes between the political ,business and academic elites and reality is growing wider at an accelerating rate. While ordinary people hold onto the values and traditions of Europe’s 5000 year old civilisation, the elites seeme determined to sell our contintent from under our feet to immigrants who have contributed little but want to impose their religion and customs on us. Here’s an example …

Germans Cheer As Refugee Center Burns
After a remarkable degree of restraint and tolerance was demonstrated by residents of EU cities where the refugees are being dumped in hostels, fed, clothed and given spending money, all funded by European taxes, the attacks that left 130 people dead in Paris in November and the string of sexual assaults that swept Cologne, Germany on New Year’s Eve have been the straw that has broken the camels back.

Germans Demand Impeachment Of Hausfrau – Volksfuhrer Merkel
It has taken an example of lawlwss behaviour by recenltly arrived immigrants as gross as the mass rape and sexual assault riot in Cologne at New Year, 2016, to awake German anger at what their government, led by arch globalist Angela Merkel, is doing to the ancient cultures of the federal states that make up modern Germany.

GermanSocialist Idiot Minister: Criticism Of Migrant Rapes Are As Bad As Rapists Themselves
Public hostility to Muslim migrants who raped and sexually assautled German women and attacked German nationals on New Year’s Eve increased sharply after a socialist regional politician in the North Rhine – Westphalia federal state appeared to blame Germans for the orgies of violence that took place in Cologne and other German cities as people celebrated the New Year.

Google, Facebook and Twitter Yield to German Govt Demand to Censor Anti-Migrant ‘Hate Speech’ (aka Free Speech)
Over the past couple of days we, and many other New Media outlets reported the horrific incident in Cologne, Germany at New Year, in which a crowd on male, recently arrived immigrants, all of Arab or North African appearance according to witnesses carried out a mass attack on German women who were simply trying to use the railway station.

New Year’s Eve, Germany: 1,000+ Migrants Brawl, Rape, Sexually Assault, And Steal At Cologne Railway Station
Details of the sexual assaults and attacks on peaceful Germans by large gangs of migrants in Cologne in the early on the morning of January 1, are just now emerging. Not a word on this story was printed in mainstream European newspapers or reported in television and radio news bulletins.

European Governments Hold “Secret” Meeting To Dismantle Borderless Travel
Since the spring of this year, when numbers of migrant flooding across the European Union’s border illegaly began to rise exponentially we have predicted that the resultant crisis would bring about the end of the Schengen Agreement – under which 28 EU nations operate open internal borders, unravels in the face of the overwhelming flow of refugees fleeing the war-torn Mid-East

While Europe Is Still Reeling From The Paris Attacks Another Capital City Is Plunged Into Chaos
Following a warning last night of an “imminent” terror threat in Brussels security services raised the country’s terror alert to the highest level, plunging Europe, still reeling from last weeks carnage in Paris and gripped by fear and panic due to the honest reporting (at last) that the EU’s politically correct ‘open doors’ immigration policy has allowed extremists hostile to European culture and our way of life to infiltrate European societies …

Terrorism: France Will Push To End Borderless Schengen Zone
Europe’s free movement zone is already under pressure due to the tide of illegal entrants flooding over the EU’s external borders. Now, terror stricken French citizens will demand emergency border controls and the re – establishment of national borders at a summit on Friday.” To all intents and purposes it will be a temporary suspension of Schengen,”

The Revolution Is Spreading: Now Austria Turns Against The Anti – White Leftist Elite
With Sweden’s coalition of opponents, formed to deny a place in government to the anti – immigration, pro – Swedish culture party The Sweden Democrats a place in government that was their democratic right, falling apart; with France’s Front National, led by Marine Le Pen topping polls and other parties opposed to mass immigration and the destruction of European culture riding high elsewhere, Austria has become the latest nation where voters have turned their backs on the consensus politics of Cultural Marxism.

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Italy vs EU Clash – When Will It Kick Off?

The League / Five Star coalition Italian government’s economic policies will almost certainly bring the country (opulation 60 million) into conflict with the financial diktat of the Brussels wannabe bureucratic dictators, if the county’s new hard line on immigration do not do so first.

On Italy this is likely just the calm before the next storm given the Five Star and League coalition government’s economic policies are almost inevitably going to be in conflict with the fiscal rules set by Brussels — though the confrontation may take longer to come to a boil because of the presence of technocrats in the new government, a compromise required by Italian president Sergio Mattarella for the government to be formed on June 1. Signs are that the coalition paln to press ahead with the program agreed by League and Five Star leaders regardless of attempts by the EU appointed technocrats to bring the government into line behind Brussel’s push for fiscal integration of its member states.

Over the weekend however, Italy once again roiled Europe,  by demonstrating its drastic shift in immigration politics, when the country’s new populist leader, Matteo Salvini, now operating as Minister of the Interior, made good on his warning last weekend that “the good times for illegals are over”, writing an urgent letter ordering Malta to accept a ship carrying 629 shipwrecked North African migrants currently sitting off the Italian coast – calling Malta the “safest port” for the passengers, and advising that Rome will no longer offer refuge.

rsz_gettyimages-655958494-640x480_0The M V Aquarius carrying over 600 undocumented economic migrants

The Italian message to Europe was simple: having been the port of landing for tens of thousands of migrants in the past two years, Rome would no longer accept boat after boat of North African (or middle eastern) refugees.

Italy’s vocal resistance to accepting further migrants sparked outrage among European leaders who are still ‘on message’ about immigration but Hungary’s Victor Orban and a few others expressed support for the Italians. The move prompted prominent Marxist billionaire (if there’s one thing the left are consistent in it’s hypocrosy,) George Soros, who funds many ‘charities’ involved in helping illegal immigrants get from Africa and Asia to Europe, and the person many have accused of being behind Europe’s unsupportable migration patterns, to urge the EU to compensate Italy for the 100,000+ migrants landing there, noting that the strong showing of far-right parties partly is due to Europe’s ‘flawed’ migration policies.

So just get that straight: Soros and EU leaders including Macron of France and Germany’s Angela Merkel think that the swing in the political balance to the right, which has been triggered by mass immigration can only be fixed by more mass immigration. That only makes sense if you believe the warnings of ‘conspiracy theorists’ that the elite plan to flood Europe with ignorant, semi literate third world peasants and displace the indigenous populations because primitive, religion obsessed peasants are easier to control than educated, questioning Europeans.

Italy of course it a bit too big to be pushed around as Greece, Cyprus, Portugal and Ireland have been pushed around by the EU and with Britain on the way out, Spain fragmenting and Poland, Hungary, Austria, the Czech Republic and Slovenia already at loggerheads with the EU it’s only a matter of time before the whole thing explodes.

 

 

Battered Italy, Bruised Europe

Sometimes we all need a break so, back from Mallorca I’m going to continue my vacation by borrowing a few posts from elsewhere. Italy has been the main subject or my sporadic blogging and the posts from the blog’s occasional contributors this past couple of weeks. Here’s an excellent analysis of what has been going on in Italian politics and what it might mean for the future of the EU from RT contributor Dr. Sreeram Chaulia. (published under fair use terms for public education, as a counter to the fake news and propaganda fed by Brussels via mainstream media.)

Battered Italy, bruised Europe: Italian saga reveals deeper problems facing EU
Rome was neither built in a day and nor did it decline instantly. Italy has been crumbling over the last two decades under the weight of structural malfunction.

The fall reached precipitous levels in recent days with institutional gridlock and economic panic threatening another Europe-wide meltdown.

Since March, Italy lacked a government amid extreme uncertainty and confrontation between firebrand right-wing populists and their liberal opponents. Constitutional principles like the ‘will of the majority’ and ‘checks and balances’ wrestled with each other in a nerve-wracking contest of wills.

Notwithstanding a last-minute deal to finally stitch together a government, the saga has revealed deeper underlying maladies. Italy is on the frontline of a fissure gnawing at the heart of the contemporary Western world—­ nationalistic reassertion vis-à-vis supranational globalization.

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Italy's PM-designate Giuseppe Conte looks on as President Sergio Mattarella signs documents © Presidential Press Office

 

The electoral success of two anti-establishment populist parties, the Five Star Movement and The League which will together govern Italy in a coalition, is premised on the same idea that hoisted Donald Trump to the White House and pushed the United Kingdom to Brexit, i.e. ‘us’ simple folks of the nation versus ‘them’ scheming distant elites.

In Italy, down-and-out citizens who are unemployed and frustrated blame the European Union and global financial forces for their misfortunes and believe that big powers like Germany and the international investors are caging and exploiting ordinary Italians.

Lay Italians rant about how taxes and prices keep rising, wages never keep up, and all the funds from the EU for local development are swallowed by Italian politicians and mafia bosses. One small business owner in Salerno told this author: “We have no state. It collapsed long ago and was taken over by the ‘Eurocrats’ based in Brussels and their Italian lackeys who have been ruling us.”

The perception of loss of people’s control over their own destiny is compounded by condescending attitudes of the EU’s top brass towards ill-performing and mismanaged economies like those of Italy, Greece and Spain. Comments from the EU’s budget chief, Gunther Oettinger, that the global markets will ‘teach’ Italian voters a lesson to abandon extreme options, have stirred outrage and nationalistic passion among Italians who say they are tired of being treated as a “colony of the Germans”.

Like Greece, Italy has not emerged from the global economic crisis that began in 2008. Worst-hit citizens are asking why the EU and foreign credit rating agencies should be imposing their will on fiscal spending limits and even on who should be Finance Minister in the next Italian government.

For commoners, the only ‘markets’ which matter are the physical ones dotting Italy’s streets and lanes where customers are scarce and profits are thinning. Privileging of interests of international bond and stock markets over real markets that determine livelihoods of simple people is a core problem that populists highlight and promise to overturn when they take power.

 

The idea of European integration was once championed by Italian Communists like Altiero Spinelli as an escape from narrow nationalistic rivalries and wars. Today, as the working classes in Italy suffer under fiscal austerity and breakdown of governance, the EU and bond investors are being painted as instruments of foreign big businesses to crush the nation’s poor.

If being yoked to global markets is riling the grassroots, the other factor driving the populist ascent is immigration. Throughout Italy, there is a noticeable presence of migrants from Africa and Asia who entered as part of a wave via the Mediterranean Sea in recent years. Populists blame them for crime and terrorism, channeling racial desires about restoring ‘national purity’, and vowing to deport the foreigners who are seen as “invading” Christian terrain.

Although the EU’s flag flies alongside the Italian one in public squares and government buildings, native Italians fume at the ‘burden’ saddled on them through reckless immigration without sufficient financial support or sharing by other EU member countries. Conspiracies that Germany colluded with the corrupt traditional Italian elite class and thrust unwanted migrants on Italy abound.

Defenders of European integration cite statistics and objective facts to assert that Italy has benefited economically from staying within the Euro and the EU. Even the new governing coalition of Five Star and The League has lately disavowed any intent to abandon the Euro currency or pursue an ‘Italexit’.

But it is obvious that populists have retracted from their characteristically strident anti-EU positions for tactical reasons in order to form a government after being blocked by the pro-EU Italian state establishment led by President Sergio Mattarella.

With Euroskeptics having now battled their way to power in Rome, we can expect Italy to worsen the already weakened consensus within the EU over common fiscal, cultural and foreign policies. Together with Hungary and Poland, populist-ruled Italy will form an internal opposition bloc inside the EU to undermine Germany and France’s liberal internationalist agenda.

When populists throughout Europe envision a ‘Europe of nations’ rather than a European Union, it sounds like a catharsis to their constituents on the ground who feel abandoned and left out of basic decision-making functions owing to alleged machinations of foreigners sitting far away in Brussels and financial capitalist hubs abroad.

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Five Star Movement (M5S) leader Luigi Di Maio, Italy, Naples, May 29, 2018. © Ciro De Luca/Ropi

 

As long as economic stagnation and cultural anxiety continue, the ire against supranational entities will not abate and the hyperbolic ambitions of liberal leaders like the French President Emmanuel Macron to craft a more united and powerful Europe will remain unfulfilled.

Brussels is often scapegoated for failures brought upon at least partly by Italians, Greeks or Spaniards on themselves. Prevalence of a regional culture in southern Europe based on personal favors and cutting corners suit patronage-centric political systems rather than rule-of-law. The EU or Wall Street bankers did not invent these troublesome features which predate modern times.

Yet, the signals from below are clear— people in the West have had enough of hyper-globalization and dismemberment of what used to be a defined community and national identity. They are seeking a democratic change where sovereignty, administration and policies affecting their pocketbooks are not fixed by speculative capitalist bond yield ‘spreads’, which the Italian President cited to rein in populists, but rather by the people’s autonomous choices in each country.

Understanding the anger in the boondocks and accommodating demands for at least some extent of ‘de-globalization’ are necessary to bridge the social ruptures opened up by excess financial market-based hegemony. The cookie cutter approach to globalization and continental homogeneity in Europe has to adjust to national context and popular backlash.

History shows that the EU has weathered numerous crises before and the populist wave of rage may also pass after it starts governing in countries like Italy and commits its own blunders. But the quest for a humane alternative to the existing alienating order is essential for political stability and mass contentment. This search transcends the immediate questions of who forms a government and how shares and equities will react to ministerial picks. It is the only path for the West to save itself from implosion.

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.

 

EU’s arrogant plan to break defiance in Italy is a dangerous game

After Eurosceptic parties Lega and Five Star Movement thwarted the atempt of pro – EU president Matarella to overturn the democratic vote and prevent the Eurosceptic coalition from forming a government, the EU, showing its usual comtempt for democracy and the welfare of the people has decided to punish the nation and its people, in similar ways to those used to punish Greece, Portugal and Ireland when the diktat of Brussels was defied. The result is Italy no longer has a lender of last resort ready to buy up its sovereign debt, and therefore has no last line of defence for its always dodgy commercial banking system.

As long as Italians remain defiant and refuse to accept a government of EU approved bureaucratic appointees, The European Central Bank will progressively removing its shield as quantitative easing is wound down and purchases of Italian bonds fall to zero. There will be no protection by the end of the year. The Draghi pledge to do “whatever it takes” to prop up Italy’s membership of the single currency system no longer holds.

No ECB rescue will be possible unless the Italian parliament formally authorises the government to invoke the EU /IMF bail-out mechanisms (OMT-ESM) and accepts austerity imposed by Brussels. This would amount to a “Troika” regime similar to the one that wreaked havoc on society in Greece in order to protect the interests of European .

The bail out funds would then have to be approved by a vote in the German Bundestag and the Dutch Tweede Kamer. The terms they would impose on Italy would effectively put that nation under German occupation. An Italian government would not be able to act without permission from Berlin. It is inconceivable that either Lega nationalists and Five Star Eurosceptics would accept such an arrangement. Some of them would see it as a tactical opportunity to free their country from the “German cage” of monetary union.

President Sergio Mattarella may be a man of Virtù but he is also an unelected placeman of the old “casta”. Should he try to deliver Italy to EU budget commissars through a technical government, in defiance of his own parliament, he risks a dangerous breakdown of civil order.

What the EU are overlooking is that Italy, with a population of almost sisty million and the eighth largest economy in the world, might not accept being bullied as Ireland, Portugal and Greece with their small populations and weak economies had to. They are making the same mistake with Britain, and despite the best efforts of Theresa (the appeaser) May to yield to all their demands are making a civilised process leading to Btitain’s exit from the Union impossible.

Europe has gone back to the ridiculous circumstances of the 2011 crisis when Brussels prioritised saving the failinjg single currency over the economic interests of membr states and a Eurozone member state could lose access to the capital markets and slide into bankruptcy, like any private company, or the City of Detroit, or Orange County (1994).

Italy however, despite its perpetual political and financial chaos chaos, is not a poor nation. The country does not have a debt problem as such. While public liabilities (sovereign debt etc.) are high at 132pc of GDP, private liabilities are low. The Bank of International Settlements estimates that total (core) debt is 263pc of GDP, compared to 290pc in the Netherlands, 303pc in France, 321pc in Portugal, and 338pc in Belgium.

Italians have greater financial wealth per capita than the Germans. They have €1 trillion in bank accounts and $3 trillion in liquid assets. The country has a current account surplus of 2.6pc of GDP. It has a primary budget surplus of 1.7pc of GDP, and a better fiscal record lately than France or Spain.

It is rich but it has become trapped in a “bad equilibrium” with an overvalued intra-EMU exchange rate, as a direct result of being forced to accept the Euro single currency twenty years ago, when although it did not meet the qualifying standards set by the EU itself, it was admitted thanks to creative accounting because the project was never about economic stability, but was seen a major step towards political union and a European Superstate.

<!– Source: Restricting QE to break rebel defiance in Italy is a dangerous game –>

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