Ben Delicious writes from Rome: Pardon me for asking, but what is it exactly that Mario Monti, who has stepped down yesterday from his unelected post of Prime Minister, has done for the Italian economy? The former EU Commissioner, who was appointed to run the country by Brussels and Berlin last year, leaves a mess behind that’s not much better than the one he had inherited 13 months ago.  Even though he has supposedly, according to the EU, IMF and Germany amongst others, made a big difference. They would all say that, wouldn’t they, if Super Mario, as he is called for some unknown reason, has been taking his orders from the EU, IMF and Germany and introduced austerity instead of attempting to turn things around. (Strict austerity is usually introduced by governments which have no idea what to do with the economy proper.)

Just as it was 13 months ago Italy has the deepest recession among the leading economies in the Eurozone. Its national debt is growing and will be even higher next year and its budget deficit is not at all under control, despite what Mr Monti’s government is trying to say. The only reason why the EU, IMF and Germany are pretending that things are starting to look up in Italy is because the now former unelected PM is one of their staunch allies and has been playing by the same rules as they have. Which rules, by the way, have nothing to do with Italy’s national interests nor the interests of any other of the members of the union. (So that you know, Adolf Hitler wanted to create a federal Europe and rule it by decree from Berlin.)

The big question now is whether Mr Monti would announce at his press conference tomorrow if he’s going to stand for election next year and try to prevent that buffoon, Silvio Berlusconi, from making a comeback. Silvio, in case you haven’t heard, has gotten engaged to a chick 59 years younger than he himself. Which sort of implies that he is feeling frisky again, in political terms as well as others, and is hoping for a comeback. Funnily enough, Mr Monti’s participation in the elections might split the left vote and allow Mr Berlusconi to stage a spectacular return. Which makes the situation even more exciting.

The reason why the grey suits in Brussels are terrified of a Berlusconi comeback is because he’s mad enough to pull Italy out of the euro. Yes, in his dying days in office he was telling the EU lot that he was seriously contemplating dumping the single currency as it would allow Italy to sort out its mess quickly and effectively. And that is exactly what the Eurocrats in Brussels don’t want to happen: countries leaving the euro and resolving their problems. That is why billions are given to Greece, Ireland, Portugal and Spain, bribing them into staying in the Euro la-la land. Logic and common sense have nothing to do with it. It is all about the power of the unelected Eurocrats and the dealings of the money men who are milking the debt crisis for all it is worth.

I suppose Mr Monti must be currently busy consulting his masters in Brussels and Berlin about his future plans. Can’t make a step without their consent. And it will depend on what Angela and the boys tell him to do next. Not long to wait till tomorrow though.

–End–

1 Comment

1. Jack Durish says:

   December 22, 2012 at 2:38 am

   I’m beginning to think that we’re going to see anarchy whether we like it or not. We’ll likely see many American cities going into bankruptcy next year. Police, fire, and other essential services will be curtailed or totally suspended. There’s a breeding ground for anarchy.

   I suspect that the same is happening all over Europe. I’m just guessing here, but it seems that police are loathe to enter certain foreign enclaves (am I wrong here?). The residents are substituting their own versions of law.

   At some level, anarchy may lead to a return to prosperity. Entrepreneurs of the mobster variety, with the will and strength to protect themselves, will create new wealth. It’s extremely likely that they won’t waste any of it paying off old debts. What I’m saying doesn’t sound too different from what happened in Russia following the fall of the Soviet Union, does it?

   Look, I’m not saying that’s how it’ll happen. I’m just speculating here.