Italy In Recession, Eurozone Stalling, Britain Growing

The Italian National Institute of Statistics has confirmed that Italy is now in recession. In the final two quarters of 2018, the Italian economy shrank by 0.1% and then 0.2% respectively, and the Italian Prime Minister has stated that he expects the recession to continue this year. Things are getting worse…

Growth for the Eurozone as a whole sat at just 0.2% in the last quarter of 2018, half the speed of UK growth. Despite Brexit…

EU Deletes Footage of Juncker Insulting Italians and Denies He Said It

The European Commission attempted to delete footage of Jean-Claude Juncker insulting Italians from its video service and his spokesman has tried to deny he called the country workshy and corrupt. Speaking at a Q&A yesterday, Juncker said:

“Italians must take care of the poor regions of Italy, which means more work, less corruption, seriousness. We will help them as we have always done, but do not face the game of discharging responsibility with the EU: a country is a country, a nation is a nation, countries first, Europe second.”

He also called for an end to “Russia-bashing”. When the Guardian reported Juncker’s words, his spokesman lied: “I do not understand that the president has used those words on Italy”, claiming they had been taken “out of context”. Full context here. The video of Juncker speaking was then removed from the European Commission audiovisual services website. It was later restored and Juncker’s comments were condemned as “unacceptable” by the Italian president of the European Parliament, Antonio Tajani. 

This comes a day after German MEP Markus Ferber sparked outcry after threatening that the Troika could “march into Rome and take over the finance ministry”.

Which in turn came a day after the EU Budget Commissioner Günther Oettinger was forced to apologise after suggesting that the financial markets would show Italians they cannot vote for 5Star and League.

You can see why Remainers have been so quiet about how the EU has been behaving towards Italy over the last few days…

Renzi Loses Referendum, Resigns

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Eurozone in turmoil once again…

UPDATE: Italian banks tanking…

Bum-ga, Bum-ga! Italian Politician’s Peachy Message to Voters

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Sex scandals and corruption rarely hold Italian politicians back. In the North Italian city of Bologna, known as “il rosso” (the red) due to it’s large lefty student population (it has a street named after Stalingrad), one candidate is using an age old tactic to stand out. An independent who supports the Lega Nord, Mario Turrini’s poster claims the photo “serves to get your attention” to vote for the candidate on June 5. After the image sparked outrage among locals, Turrini captioned the posters with an apology -and promised that if he wins he’ll “publish the other side”….

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Quote of the Day

Peter Mandelson tells Emma Barnett…

“I think that Jeremy Corbyn himself should search his conscience and ask himself whether he’s the best person to lead the Labour Party into the general election with the best chance of success for the party.”

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