By Steve Dellar  |  05-29-2018   News
Photo credit: twitter @spore8ge

The comments by the populist parties that had won the elections and were ready to form a government were swift and furious when President Mattarella named an ex-IMF Director as Technocrat Prime Minister till there would be new elections in the fall (or even next year).

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Grazie <a href="https://twitter.com/hashtag/Mattarella?src=hash&amp;ref_src=twsrc%5Etfw">#Mattarella</a><br><br>Just made Italy worse than Indonesia in 1 day. <a href="https://twitter.com/hashtag/TopLeadership?src=hash&amp;ref_src=twsrc%5Etfw">#TopLeadership</a> <a href="https://t.co/AJ8zNg05Lm">pic.twitter.com/AJ8zNg05Lm</a></p>&mdash; DontKnow4PM (@DrsDrs9) <a href="https://twitter.com/DrsDrs9/status/1001216968094076930?ref_src=twsrc%5Etfw">May 28, 2018</a></blockquote>

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As we’ve informed you yesterday, the government that the winners of the elections presented was not accepted by President Mattarella as it had an anti-Euro minister for the economy post.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">This is really awful: you don&#39;t have to like the populist parties who won a clear electoral mandate to be appalled at the attempt to exclude them from power because they want a eurosceptic finance minister 1/ <a href="https://t.co/D40ipG12nQ">https://t.co/D40ipG12nQ</a></p>&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1001077583147094016?ref_src=twsrc%5Etfw">May 28, 2018</a></blockquote>

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Mr Luigi Di Maio of the Five-Star Movement stated afterwards that: "Why don't we just say that in this country it's pointless that we vote, as the ratings agencies, financial lobbies decide the governments?"

The head of the Lega Nord, Mr Matteo Salvini, called upon his supporters to go on strike or at least engage in mass protests.

Related coverage: http://thegoldwater.com/news/27312-Italy-President-Faces-Impeachment-New-PM-Refuses-To-Form-Government

Mr Carlo Cottarelli, the ex-IMF Director now poised to take over Italy, became known as "Mr Scissors" for his cuts to public spending in Italy during his term in office. If his proposed government were to be accepted by the President, and there is no reason to believe they won’t, he will, just like the previous time when Italy was ruled by a technocrat government, push through reforms that will cut public spending, rein in pensions and social benefits and be in line with what the European commission wants.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">What’s happening in Italy is an absolute democratic outrage &amp; shows EU will trample over all democracy to protect its tottering Empire &amp; Euro. First they parachuted in Monti as PM 2011-13, a technocrat &amp; ex EU Commissioner, now they parachute in Carlo Cottarelli, ex-IMF economist</p>&mdash; David C Bannerman (@DCBMEP) <a href="https://twitter.com/DCBMEP/status/1001127914199502850?ref_src=twsrc%5Etfw">May 28, 2018</a></blockquote>

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Italy had a technocrat government previously in 2011 when Mr Mario Monti, a former European Commissioner took over to push through needed, but very harsh, reforms.

Related coverage: https://thegoldwater.com/news/26311-Italy-Investors-Flee-As-Populist-Government-Speaks-Of-Euro-Exit

At this point, Italy has a debt level of 130% of GDP, which many economists claim is unsustainable given that it cannot control the value of its own currency being in an agreement with other countries of the Eurozone.

Source:

http://www.repubblica.it/politica/2018/05/28/news/di_maio_mattarella_ingerenze-197577027/

Twitter: #QAnon #Italy #Tuesdaythoughts #Freetommy #USA
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