Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Salvini’

Salvini’s Sardine surprise

Posted by hkarner - 3. Februar 2020

Date: 30‑01‑2020

Source: The Economist

Regional elections in Italy buttress the government

Another blunder by the populist leader of the Northern League

It is probably the most famous of modern Italian political aphorisms. “Power wears out those who do not have it,” quipped the late Giulio Andreotti, a long‑serving prime minister. His words had a special relevance this week for Matteo Salvini, leader of the right‑wing Northern League, as he pondered the results of his second big miscalculation in five months. On January 26th the League’s candidate for governor failed to conquer the region of Emilia‑Romagna in a vote that Mr Salvini had touted as a referendum on whether he should lead Italy.

Mr Salvini has only been out of power since August last year. Until then he was one of two deputy prime ministers in the first cabinet of Giuseppe Conte, a technocrat; he wielded a decisive influence over policy as head of the party that has led in the polls since mid‑2018. But then he torpedoed the coalition government in a bid to force an election, hoping it would give him an outright parliamentary majority and untrammelled powers. His rivals responded by forming a new coalition without him. Den Rest des Beitrags lesen »

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Italy’s progressives had lost hope. The Sardines movement is starting to restore it

Posted by hkarner - 30. Januar 2020

Date: 29‑01‑2020

Source: The Guardian

Success in Sunday’s regional election in northern Italy showed how Salvini’s far‑right politics can be defeated

‘The independent initiative called on citizens to congregate in their local piazzas.’

Supporters of Italy’s centre‑left Democratic party (PD) breathed a sigh of relief on Sunday evening as their candidate in Emilia‑Romagna saw‑off competition from Matteo Salvini’s far‑right League to win the regional elections. That defeat here was even a prospect, though, shows just how much Italy’s political geography has changed.

Historically Emilia‑Romagna, in the north of the country, is a bedrock of communism and has had an unbroken string of leftist governments since the second world war. But the left has been losing ground since the financial crisis of 2008 – as in so much of the continent – with austerity‑stricken rural communities and provincial towns in particular drifting rightwards. Winning in the region would have been a real coup for Salvini, who took personal control of the local campaign.

His plans may have been thwarted, but there is little to suggest that Salvini is losing momentum. While the League may have failed to win over the region as a whole, it has consolidated support in some of Emilia’s major cities. Similarly, at a national level the polls still suggest Salvini’s party is well‑positioned to form a majority government in coalition with other rightwing parties, including the far‑right Brothers of Italy and Silvio Berlusconi’s Forza Italia when the opportunity arises. Such a scenario was reinforced by the results of another vote on Sunday in the poor southern region of Calabria: while the League won just 12%, it also oversaw collaboration among the other rightwing parties to snatch the territory from the incumbent PD governor. Den Rest des Beitrags lesen »

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Italy sends a sensible budget to Brussels

Posted by hkarner - 18. Oktober 2019

Date: 17-10-2019
Source: The Economist

All much less confrontational now that Matteo Salvini is out of government

Purtroppo, la nostra macchinetta è guasta (“Unfortunately, our little machine is broken”) should feature in Italian phrase books, for it is an expression every shopper in Italy encounters before long. Accompanied by a glance at a supposedly sickly payment terminal, it tells the customer proffering a card that only cash will do.

Measures in Italy’s draft 2020 budget, sent to the European Commission for scrutiny on October 16th, aim to thwart this and other methods of avoiding the traceability—and taxability—of transactions. One would lower the limit for cash payments from €3,000 ($3,300) to €2,000. Another would create a lottery with prizes restricted to credit- and debit-card users. Den Rest des Beitrags lesen »

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Italy’s Precarious Triumph Over Populism

Posted by hkarner - 15. September 2019

Date: 14-09-2019
Source: Foreign Affairs By Alexander Stille

Reports of Matteo Salvini’s Demise Are Greatly Exaggerated

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Matteo Salvini

Last month, Matteo Salvini, leader of Italy’s right-wing populist Lega party, attempted a Machiavellian power move. Hoping to take advantage of his soaring popularity, he brought down his own government, with the clear intention of forcing elections that would return him as Italy’s uncontested strongman. To his own and most Italians’ surprise, his jilted coalition partner, the Five Star Movement, turned around and formed a new government with the center-left Democratic Party (DP), until then the government’s principal opposition.

And so Salvini had transformed what appeared as a moment of historic triumph for the right into a major opportunity for the left. Salvini had committed what the Italians call an autogol, a soccer term for accidentally kicking the ball into your own net.

“The idea of saving our country from a swerve into dangerous populism based on hatred prevailed,” said Nicola Zingaretti, the secretary of the Democratic Party. When the new coalition was announced, many commentators breathed a sigh of relief that Italy had prevented what some feared would be the “Orbanization” of Italy, or the emergence of a far-right government, led by Salvini, that would follow the neo-authoritarian model of Hungarian Prime Minister Viktor Orban.  Den Rest des Beitrags lesen »

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Italy’s Progressive Surprise

Posted by hkarner - 31. August 2019

Date: 30-08-2019
Source: The Wall Street Journal By The Editorial Board

The establishment and insurgent left team up to take out Matteo Salvini.

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Matteo Salvini in Rome

A week ago Matteo Salvini looked like Italy’s next Prime Minister, but now the League leader is headed for the political wilderness. Italy’s most interesting politician will have to watch as the left tangles with Brussels while trying to revive the economy.

On Wednesday night leaders from the insurgent 5 Star Movement and the establishment Democratic Party announced an agreement to form a center-left coalition. The parties provided few details, though Prime Minister Giuseppe Conte will keep his job. This doesn’t look like a government built for the long-term—but what else is new in Italian politics?

In 2018 Mr. Conte, a lawyer, was plucked from near-obscurity to mediate an unruly coalition between the conservative League and the leftist 5 Star Movement. Imagine if an unknown law professor became U.S. President—with Bernie Sanders and Donald Trump as strong co-vice presidents. Ministers from each party often undermined each other publicly and squabbled over parochial issues like rail projects and basic questions about the role of government. Den Rest des Beitrags lesen »

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Italy’s would-be strongman suddenly looks more vulnerable

Posted by hkarner - 17. August 2019

Date: 15-08-2019
Source: The Economist

Salvini stumbles

But nothing is predictable about Italian politics

Hubris is an occupational hazard for political leaders. Two of Italy’s recent prime ministers, Silvio Berlusconi and Matteo Renzi, stumbled just when it seemed they could do whatever they wanted. (Mr Renzi wanted to change the constitution; Mr Berlusconi wanted to hold “bunga bunga” sex parties. In both cases, voters objected.)

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Now Matteo Salvini, the leader of the populist Northern League, wants to ditch his coalition partners in the anti-establishment Five Star Movement (m5s), bring down the government that is led by Giuseppe Conte, an independent, and hustle the country into a snap election so as to give himself what he has termed “full powers”. This would enable him to impose, among other things, a radically expansionist budget for 2020. Mr Salvini claims that a “fiscal shock” is needed to jolt the moribund Italian economy back to life. Critics fear it could instead pitch the country, which has debts of over 130% of gdp, into a new financial crisis, along with the rest of the euro zone.

So the stakes were high when, on August 9th, the League tabled a Senate motion of no confidence in Mr Conte. Mr Salvini, a deputy prime minister, did not, however, withdraw either himself or his ministers from the cabinet—a move that would have made the fall of the government inevitable. And on August 13th, a hastily reconvened upper house rejected the League’s demand for a confidence debate to be held the very next day.

The luckless Mr Conte will still have to go to parliament to explain a crisis that is not of his making. But he will start his visit to the two chambers on August 20th, this date having been set by a majority that for the first time united the m5s with the opposition, centre-left Democratic Party (pd) and a handful of regionalists and independents. That raised the possibility that Mr Conte, who belongs to neither party in his coalition, might not get the thumbs-down, or that, if he resigned, a new government could even be formed, backed by the Five Stars and the pd. Den Rest des Beitrags lesen »

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Salvinis „Italexit“-Drohung Der Mann, der den Euro zerstören könnte

Posted by hkarner - 15. August 2019

Matteo Salvini will italienischer Premierminister werden – im Wahlkampf kokettiert der Rechtspopulist mit dem Euro-Austritt. An den Finanzmärkten sorgt er damit für Entsetzen.

Von Hans-Jürgen Schlamp, Rom, Spiegel.de

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Matteo Salvini: Dogmen und Vorschriften aus Brüssel sind „nicht heilig“
Dienstag, 13.08.2019 19:22 Uhr

Es ist wieder so weit: Die nächste Italien-Krise rollt an. An der Mailänder Börse sind die Aktienkurse in den vergangenen Tagen kräftig gefallen, vor allem jene von italienischen Banken und von Unternehmen, die weitgehend auf den Inlandsmarkt ausgerichtet sind. Post, Telekom, Gas. Die Anleger sind hochnervös.

Der berühmte „Spread“ steigt wieder. Das heißt: Italiens Finanzminister Giovanni Tria muss derzeit für eine Schuldverschreibung mit zehnjähriger Laufzeit dem Käufer 1,7 Prozent Zinsen bieten. Deutschlands Finanzminister Olaf Scholz bekommt dagegen von jedem, der seine Staatsanleihen haben will, noch 0,6 Prozent Zinsen dazu. Geradezu verlockend für einen Finanzminister, aber Scholz will eigentlich gar keine neuen Schulden machen.

Der parteilose Kollege in Rom dagegen soll viele, sehr viele neue Kredite aufnehmen. So will es seine gerade auseinanderfliegende Regierung, vor allem der kleinere, aber weit durchsetzungsstärkere Partner, die rechte Lega von Matteo Salvini. Dabei gehört Italien längst zu den Ländern mit der weltweit höchsten Schuldenquote. Um fast 40 Prozent sind die Staatsschulden in den vergangenen zehn Jahren gestiegen, auf etwa 2,32 Billionen Euro im vorigen Jahr. Das entspricht 132 Prozent der jährlichen Wirtschaftskraft des Landes. Nur Griechenland ist in Europa noch schlimmer dran. Den Rest des Beitrags lesen »

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Europeans just love idiots! (all Salvini does is campaigning, he never works)

Posted by hkarner - 11. August 2019

Date: 10-08-2019
Source: The Wall Street Journal
Subject: Political Gambits Threaten More Economic Upheaval in Europe

U.K. leader’s Brexit pledge and Italian push for power are set to test region’s economies

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Italian politician Matteo Salvini,
Europe is facing a season of political turmoil in its North and South.

In the U.K. and Italy, charismatic right-wing leaders are pursuing high-risk bids for greater power that entail clashes with the European Union, potentially disrupting their nations’ economies and Europe’s already faltering growth.

The British economy is already taking a hit from the risk of a chaotic Brexit on Halloween, the latest date set for the U.K. to leave the EU. The U.K. economy, the world’s fifth largest, contracted at an annualized rate of 0.8% in the second quarter as business confidence plunged, according to data released on Friday.

It was Britain’s first quarterly contraction since 2012.

The weak data, and political turmoil over Prime Minister Boris Johnson’s determination to take the U.K. out of the EU on Oct. 31, pushed the British pound down to a multiyear low of $1.2057, before it recovered somewhat. Den Rest des Beitrags lesen »

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The most dangerous man in Europe

Posted by hkarner - 13. Juli 2019

Date: 11-07-2019
Source: The Economist

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How to defuse the threat that Matteo Salvini poses to the euro
There needs to be a deal between the European Commission and Italy

On july 8th euro-zone watchers breathed a sigh of relief. The zone’s 19 finance ministers backed the European Commission’s decision that Italy should not be penalised for allowing its public-debt burden to rise in 2018 in violation of the eu’s fiscal rules. Thanks to savings of 0.4% of gdp for the current year, cobbled together by Italy’s governing coalition, a damaging confrontation seems to have been resolved.

In truth, however, it has merely been postponed. The grim reality of Italy’s public finances remains unchanged. Its deficit is on course to exceed the eu’s threshold of 3% of gdp in 2020, its debt is sky high and, worst of all, it is plagued by a persistent absence of growth. If Italy is to dispel the ever-present air of crisis, a much more far-sighted deal will be needed.

Since the euro was introduced, over 20 years ago, Italy has steadily fallen behind the rest of Europe. The average citizen in Germany, France and Spain is a fifth better off, in real terms, than in 1999; incomes in eastern Europe have more than doubled. But the average Italian is no richer. Den Rest des Beitrags lesen »

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Salvini drängt auf Steuersenkung und droht mit Rücktritt

Posted by hkarner - 23. Juni 2019

 Na, sein Rücktritt wäre ja ein Fortschritt! Il suo retiro sarebbe una fortuna! (hfk)

Dominik Straub aus Rom, 21. Juni 2019, 11:22, derstandard.at

Das drohende Defizitverfahren die EU hat das Potenzial, die italienische Regierung zu Fall zu bringen

Rom – „Italien braucht eine mutige Steuerreform, wie sie US-Präsident Donald Trump durchgeführt hat“, betont Italiens Innenminister Matteo Salvini in einem Interview mit dem „Corriere della Sera“. Es sei seine Pflicht, diese umzusetzen. „Sollte ich wegen Brüssel nicht in der Lage sein, dies zu tun, verabschiede ich mich und gehe“, sagt der 46-jährige Vizepremier. „Mutig“ bedeute, dass die Steuerbelastung in Italien um mindestens zehn Milliarden Euro gesenkt werden müsse. „Es reicht mir mit diesen Käfigen, in denen die Zukunft eingesperrt wird, und mit dem Ersticken unseres potenziellen Wachstums.“ Der Lega-Chef verlangt schon seit Monaten die Einführung einer Pauschalsteuer von 15 Prozent auf allen Einkommen unter 50.000 Euro im Jahr. Das würde der Wirtschaft einen Wachstumsimpuls verleihen, der die Einnahmenausfälle für den Staat mehr als kompensieren würde, glaubt Salvini. Laut Finanzexperten würde die von Salvini vorgeschlagene Steuersenkung aber zunächst einmal zwischen 30 und 40 Milliarden Euro kosten. Der Vizepremier hat durchblicken lassen, dass er sich mit einer schrittweisen Einführung zufriedengeben könnte, wodurch die Kosten zumindest für das Jahr 2020 auf zehn Milliarden begrenzt werden könnten.

Schuldendienst so hoch wie Bildungsausgaben

Den Rest des Beitrags lesen »

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