Skip to main content

The European Financial Dictatorship in panic again, warms its machine for a second coup against Italy

How many more financial coups the European Financial Dictatorship is willing to orchestrate in order to maintain austerity and sado-monetarism inside the member-states?


The Brussels/Berlin axis in the European Financial Dictatorship (eurozone) has put itself in alarm mode again, this time due to what appears to be a bigger threat for its iron, authoritarian model of austerity and sado-monetarism. The threat comes from the new eurosceptic coalition government in Italy, formed by the anti-establishment Five Star Movement and the anti-immigrant Northern League.


The European Vice President, Valdis Dombrovskis, rushed to launch an indirect threat against the new coalition in Italy, saying that "We view it as important that the Italian government remains on course in pursuing a responsible budget policy," and "We can only advise it to stay on course in terms of economic and fiscal policies, to stimulate growth through structural reforms and to keep the budget deficit under control,". Warning shots also fired by the French Economy Minister Bruno Le Maire.

Yet, there are signs that even bigger threats came from the top destructive weapon of the European Financial Dictatorship, the European Central Bank: “Rumors are rife that the European Central Bank may use its regular bond buying to sway the program of the new Italian government, but past data provides little evidence it uses these purchases to intervene in times of political turmoil. Italian bond yields have risen sharply on fears that a populist government will clash with Brussels over spending plans, and some have suggested the ECB may have reduced purchases recently to send the new government a signal about discipline. Traders see little evidence of this for now, and Italian spreads over Germany actually narrowed on Tuesday, suggesting that investors’ nervousness may be calming as the new government provides clarity over its plans.

Sounds familiar?

Recall that, the Greek political establishment collapsed with the rise of SYRIZA in power, and the ECB was forced to proceed in an open financial coup against Greece when the current PM, Alexis Tsipras, decided to conduct a referendum on the catastrophic measures imposed by the ECB, IMF and the European Commission, through which the Greek people clearly rejected these measures, despite the propaganda of terror inside and outside Greece. Due to the direct threat from Mario Draghi and the ECB, who actually threatened to cut liquidity sinking Greece into a financial chaos, Tsipras finally forced to retreat, signing another catastrophic memorandum.

Yet, this was not the first financial coup. While Greece was the major victim of an economic war, Germany used its economic power and control of the European Central Bank to impose unprecedented austerity, sado-monetarism and neoliberal destruction through silent financial coups in Ireland, Italy and Cyprus.

It has been revealed that back in 2011, a certain mechanism of the political and economic elite within and out of Italy, forced Berlusconi to resign in order to be replaced by the technocratic puppet Mario Monti to impose harsh austerity, as a key element of the neoliberal agenda.

As described, the former Prime Minister, Romano Prodi, gave blessing to Monti and a prophecy: "When Italian spreads reach 300 units, you will be asked to govern." Italian spreads finally surpassed the 300 units that Prodi predicted, to reach 500. Italy was in face to face with the ghost of bankruptcy. Either by populism, or by free choice, Berlusconi did not abide by the orders of Germany. He became unpopular, as he challenged austerity policies, so he had to be removed.

No surprise that the head of the Bank of Italy at that time was (guess who) ... Mario Draghi.

One year later, Draghi, as the head of the ECB this time, will announce the decision for unlimited purchase of government bonds in eurozone. As described back then “the ECB becomes a corresponding Fed in the European area, “serving” the problematic economies that are excluded from the bond markets, through the print of new money. Therefore, the problematic economies will be loaded with more and more debt which the ECB, i.e. the largest private European banks will hold. Someone could argue that is not something new, since nations were facing huge debts in previous years, because they were indebted to banks through the excessive borrowing from the markets. But in this case, there is an important difference that makes things much worse: it is the cruel conditions imposed by the ECB to states that need to buy money. States that are excluded from markets, are now trapped within the neoliberal economic empire of the eurozone and will be forced to follow new austerity measures every time they need ECB to buy their bonds.”, which is exactly what happened to Greece.

The trap mechanism was completed. Anyone who dared to refuse austerity and sado-monetarism, imposed by the Brussels/Berlin axis, through 'undesired' political parties in power, would be delivered to the hands of the ECB regime and would be forced to take all the painful measures, through economic suffocation.

The new coalition in Italy will certainly have to face this sinister mechanism (perhaps another silent or open financial coup), in case that it will remain committed to its promise to relief the Italian people from brutal austerity.

So, the next big question is: how many more financial coups the European Financial Dictatorship is willing to orchestrate in order to maintain austerity and sado-monetarism inside the member-states?

Comments

Popular posts from this blog

Oct. 7 Reports Implode: Beheaded Babies, NY Times Scandal, & More

Glenn Greenwald    

Πώς ο Γκρίνμπεργκ μπορεί να θάψει το καθεστώς Μητσοτάκη

του system failure    Είναι ξεκάθαρο ότι η αναμφίβολη πρωτοκαθεδρία του καθεστώτος Μητσοτάκη οφείλεται σχεδόν αποκλειστικά σε μια άκρως επιθετική επικοινωνιακή εκστρατεία που είχε καταφέρει μέχρι στιγμής να κρύβει κάτω από το χαλί (τουλάχιστον ως ένα βαθμό) τον αυταρχισμό και τη διαφθορά του καθεστώτος, καθώς και τις καταστροφικές πολιτικές που εφαρμόζει.  Και δεν είναι πλέον μυστικό, ότι ο άνθρωπος-κλειδί πίσω από αυτή την εκστρατεία είναι ο Αμερικανός δημοσιοσχετίστας, Σταν Γκρίνμπεργκ .    Όμως καθώς το καθεστώς επαναπαύθηκε στις δάφνες της νίκης των τελευταίων βουλευτικών εκλογών, τα μεγάλα προβλήματα συνέχισαν να συσσωρεύονται και φάνηκε ότι το καθεστώς είτε δεν ήθελε, είτε δεν μπόρεσε να τα αντιμετωπίσει. Έτσι, είδαμε σε σύντομο χρονικό διάστημα να έρχονται τα πρώτα σημαντικά πλήγματα στην πρωτοκαθεδρία του, μέσα από τα αποτελέσματα των δημοτικών και περιφερειακών εκλογών. Παρόλα αυτά, η αλαζονεία των καθεστωτικών στελεχών παρέμεινε αμετάβλητη, καθώς θεώρησαν ότι η τραγωδία των Τ

Zionist and US imperialist criminals are about to grab the natural gas off shore Gaza

globinfo freexchange   As the genocide against Palestinians of Gaza is about to be completed with an act of unprecedented brutality by the Zionists and butcher Netanyahu through the bombardment of about 1.4 million civilians in Rafah, it seems that they have already set their next primary goal. Which, in short, is to grab the natural gas resources off shore Gaza, together with their US imperialist buddies whose contribution to the genocide has been undoubtedly critical.     As already reported , in 2007, Hamas came to power and Israel launched an offensive on Gaza Strip, leaving behind 1,400 dead Palestinians, but taking with it the gas fields. Within a year, Israel announced the discovery of the Leviathan natural gas field, which did include Gaza's riches, valued at 453 billion dollars. But Gazans have been denied around 47 billion dollars in revenue. As for Tel Aviv, it's gunning to become a new hub. At that moment in time, that is 2022, Russian oil and gas were sanctioned.

Israel’s Descent Into Madness & the Holocaust Comparison

BreakThrough News   Rania Khalek was joined by Tarik Cyril Amar, a historian from Germany and associate professor at Koc University in Istanbul, to discuss Israel’s descent into genocidal fascism. Prof. Amar addresses whether it’s useful to make Holocaust and Nazi comparisons and the real reason behind the West’s unshakeable loyalty attitude when it comes to Israel’s barbarism.   

Neocon Queen Victoria Nuland Ends Her Reign: Exposing a Catastrophic Career

Glenn Greenwald    

The Shadowy, Intelligence-Linked Group Driving the US Towards War With Iran

"United Against Nuclear Iran does not miss an opportunity to try to bring the United States closer to a military conflict with Iran. And on the other side of the equation, they also have worked very hard to oppose efforts to de-escalate the U.S.-Iran relationship."   by Alan Macleod   Part 7 - A Lesson From History   The history of Iran has been intimately intertwined with the United States since at least 1953 when Washington orchestrated a successful coup against Prime Minister Mohammad Mosaddegh. Mosaddegh had refused U.S. demands to stamp out Communist influences in his country and had nationalized the nation’s oil. The U.S. installed Shah Mohammad Reza Pahlavi as a puppet ruler. An unpopular and authoritarian ruler, the Shah was overthrown in the Revolution of 1979. Since then, it has become a target for regime change, and its nuclear program is something of an obsession in the West. Often orchestrated by UANI officials while they were in government, the U.S. has carried

Το σκάσιμο της φούσκας Μητσοτάκη με νέα επίσημη χρεοκοπία και οριστικό τέλος της μεταπολίτευσης

του system failure   Τα αποτελέσματα των εκλογών της 25ης Ιουνίου ήταν λίγο-πολύ αναμενόμενα όσον αφορά τις πρώτες θέσεις με βάση και τα αποτελέσματα της πρώτης κάλπης του Μαίου. Αν συμπεριλάβουμε και το ποσοστό της αναμενόμενης αποχής, δεν μας έδωσαν κάποια ιδιαίτερη έκπληξη. Αυτό όμως που φαίνεται να αιφνιδίασε ακόμα και το συστημικό κατεστημένο, είναι η είσοδος των δύο υπερσυντηρητικών, ακροδεξιών κομμάτων Νίκη και Σπαρτιάτες, με το τελευταίο να έχει ξεκάθαρες διασυνδέσεις με τον πρώην Χρυσαυγίτη, Ηλία Κασιδιάρη. Παρά τη μεγάλη νίκη Μητσοτάκη, οι μιντιακοί ινστρούχτορες της καθεστωτικής προπαγάνδας εμφανίστηκαν σε γενικές γραμμές "μουδιασμένοι" και αυτό οφείλεται στο γεγονός ότι το συστημικό κατεστημένο (δηλαδή τα μεγάλα οικονομικά συμφέροντα που ελέγχουν και το σύνολο των μεγάλων ΜΜΕ πανελλαδικής εμβέλειας), πέτυχε μόνο έναν από τους τέσσερις μεγάλους στόχους που είχε θέσει εξ'αρχής. Μιλώντας με ποδοσφαιρικούς όρους, ουσιαστικά έχασε με σκορ 3-1.   Ο μεγάλος στόχος πο

Study Finds Media Giants New York Times, CNN, and Fox News Pushing for US War in Yemen

by Alan Macleod  Part 2 - Biased Reporting MintPress conducted a study of four leading American outlets: The New York Times , CNN, Fox News and NBC News. Together, these outlets often set the agenda for the rest of the media system and could be said to be a reasonable representation of the corporate media spectrum as a whole. Using the search term “Yemen” in the Dow Jones Factiva global news database, the fifteen most recent relevant articles from each outlet were read and studied, giving a total sample of 60 articles. All articles were published in January 2024 or December 2023. The study found the media wildly distorted reality, presenting a skewed picture that aided U.S. imperial ambitions. For one, every article in the study (60 out of 60) used the word “Houthis” rather than “Ansar Allah” to describe the movement which took part in the Yemeni Revolution of 2011 and rose up against the government in 2014, taking control of the capital Sanaa, becoming the new de facto government. Ma

The truth about Alexei Navalny

Glenn Greenwald / Dangerous Ideas with Lee Camp / The Hill /  

Israel Carries Out Most Sadistic Massacre, Opens Fire On Gaza Aid Convoy

Richard Medhurst