So will there be an ItaXit now ?

[Jaws]

After the vote in Italy and Matteo Renzi standing down, do we see yet another country about to leave the SS Titanic Failure oft referred to as the EU ?
OK, as in all things politics it would not happen over night ( in fact I do not think an election is due in Italy until 2018 ? ) but I suspect Italy is going to eventually head off towards article 50 at some time

For the time being it looks like the result will cause a decent upswing in the ? / ? rate.. So anyone thinking of buyin ? at the moment .. I would hang fire for a wee while..

 

[eddyace595]

Lots of anti establishment unrest around the world at the moment.
I can see even more of this on the horizon...

 

[andyBeaker]

I'm not sure Italy is in any position to leave the EU as it remains firmly on it's arse ecomically after decades of tax not being paid by a huge chunk of the population - much higher on the scale than the UK.

 

[Jaws]

I'm not sure Italy is in any position to leave the EU as it remains firmly on it's arse ecomically after decades of tax not being paid by a huge chunk of the population - much higher on the scale than the UK.

But it has been like that since.. well as long as history has been written !

 

[noobie]

Italy is still a big player within the EU but it also happens to be the largest country with the most high risk debt. Financially it can fight it's own battles but the amount of dodgy debt means it is more at risk than even Greece.

The biggest problem they have is, no surprise, banking.

In the same my Dodgy Phillip Green, created companies upon companies of their own to then raise capital by selling part of themselves to themselves, many European governments and banks have been buying each others debt/bonds and at all times charging the European taxpayer for their services and using taxpayers and state banks to do this.

Why is this a problem? Think BHS but on a 28 country scale and then imagine say if any one country went under, they are linked by these dubious deals but more importantly are all linked by the one thing that could take them all out, the Euro.

Things were always okay as long as the people didn't notice what was going on in our name but now they do and with so many countries in the Euro, it raises the chances greatly of the Domino effect.

For now, as the next Italian elections are not due till 2017, I suspect the president will put in place a token prime minister( probably their version of the chancellor) in the hope Europe can help but as mentioned. Italy like Greece has always been shit at collecting taxes and has always depended on others money more than its own.

 

[Jaws]

Well what ever the reason, the ? has actually climbed agin the ? this morning ! ( only by a couple of tenths of a cent but it has nevertheless gone up )

I am hoping it will go down at least another few cents before January.. Gotta pay the bulk of the site fees when we get down to Beni..

Current exchange rate over that of mid October has already saved us about ?90 !

 

[americanexpress]

But it has been like that since.. well as long as history has been written !

63 different governments since the second world war, not exactly a shining example :dunno:

 

[Barrie]

Whatever happened to the "Common market? "
How did we get sucked into being controlled by Brussels?

 

[Centaur]

63 different governments since the second world war, not exactly a shining example :dunno:

Proportional representation at it's best, AE. And the Lib Dems want to bring it here. I believe the Italians are generally pro the EU but very anti the Euro. :-0)

 

[Centaur]

Whatever happened to the "Common market? "
How did we get sucked into being controlled by Brussels?

Labour signed the treaties telling us they weren't really important. :bang: