+++ 8. Dezember 2016 +++
Italian Referendum: Another Big Blow for the European Union
The smashing defeat of pro-EU oligarchies in the Italian constitutional referendum of Dec. 4 opens up a new phase in European politics and bears global implications. This is the third shock delivered by the worldwide revolt of the “forgotten citizen” against a political establishment responsible for an economic crisis and wars which are driving millions of people into poverty, despair and death. Not by chance, the highest percentages of the “No” vote came from southern regions, such as Sicily and Sardinia, which have the highest rates of youth unemployment and poverty levels, and from the north-eastern region of Veneto, hardest hit by the post-2008 industrial desertification and a high rate of suicide among small industrialists.
With a voter participation of nearly 70% domestically (66% with voters abroad), Italians rejected 60% to 40% a Constitutional reform dictated by the European Union and by investment bankers. If approved, the reform would have turned the Parliament into a mere executioner of dictatorial power, based not in Rome but in Brussels and Frankfurt (EU Commission and ECB). In fact, the introduction to the Constitutional reform bill states that its aim is "to exhaustively rationalize the complex multilevel system of governance, articulated among the European Union, the state, and local autonomies." No less than four new Constitutional Articles established that EU law was on the same level as Italian constitutional law.
Now a turbulent new phase is to begin for Italy and the EU. Prime Minister Matteo Renzi postponed his resignation until the budget law is approved by the Parliament. The Lega Nord and M5S opposition parties have called for early elections, but there is still a large majority in the current Parliament to support a PD Prime Minister. Additionally, before new elections are held, a new election law would have to be approved, as the Constitutional Court has ruled that the current one is unconstitutional.
The financial storm announced before the vote in the event of a Renzi defeat (Raffaele Jerusalmi, the CEO of Borsa Italiana, the Italian stock exchange, had warned of “colossal short positions” on Italy, in expectation of a “No” victory) did not occur the day after. However, time is running out for Monte dei Paschi di Siena and other banks, after ten years of depression, and an EU-dictated “market solution” involving a bail-in for depositors is now more difficult than before. A crisis will spread contagion throughout the entire financial system.
Italy will shortly face the choice: either impose financial fascism or leave the euro and implement national emergency legislation, which includes a Glass-Steagall financial reform and a large-scale plan for infrastructure investments and economic recovery, in cooperation with China’s New Silk Road strategy.
~ deutsch + english ~
+++ 21. Dezember 2016 +++
Terror: Obama Issues Threats to Kill
On receiving the first reports, on Dec. 19, of the assassination of Russian ambassador Andrey Karlov in Turkey, American economist Lyndon LaRouche declared: “Put Obama on the list of suspects.”