Europe Launches War On Italy’s Fiscal Plans: Warns Of Debt “Explosion”, Threatens Savers

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In the aftermath of Italy’s defiant announcement that it would expand its 2019 budget deficit to 2.4% of GDP, above both the initial proposal from finmin Tria which was 1.6%, and also higher than the European “redline” of 2.0%, the question was how would Europe respond to this open mutiny by Italy.

The answers started to emerge on Friday, when European Parliament head Antonio Tajani said that fiscal targets set by Italy’s eurosceptic government were “against the people” and could hit savers without creating jobs.

“I am very concerned for what is happening in Italy,” said Tajani, who is a center-right opposition politician in Italy and close ally to former Prime Minister Silvio Berlusconi. The budgetary plans “will not raise employment but will cause trouble to the savings of the Italians,” Tajani said. Continue reading

Italian election 2018 results: ‘Italy is OVER!’ Twitter meltdown after ‘populist’ success

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Italian election 2018: The exit polls in Italy are showing that the 5-Star Movement in the lead (Getty)

 

A NEW hashtag has started trending in Italy in the wake of the historical success of “populist parties” with users claiming #Italyisoverparty, it has been revealed.

The exit polls in Italy are showing that the Eurosceptic 5-Star Movement party set to win the most votes and the anti-immigration party Lega are due to win more votes than Silvio Berlusconi’s Forza.

The front page headline on the first edition of La Stampa newspaper says: “Di Maio wins, Italy ungovernable.” Continue reading