Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Silvio Berlusconi

Ministers Meet as Eurozone Time Bomb Ticks Down

English: Various Euro bills.

As the finance ministers from each of the 17 members of the eurozone meet in Brussels yesterday, the main topic was “integration.” It’s a race against the clock.

One of the first items being discussed is putting in place the leveraging of the stability fund—otherwise known as the EFSF, or European Financial Stability Fund. At present, this fund holds some $600 billion in assets, much of which has already been invested in government bonds issued by the eurozone’s weak sisters: Ireland, Greece, and Spain. The leveraging, through some opaque maneuvering, will then allow the fund to do some serious purchasing of enough of Italy’s debt to solve two problems at the same time. One is to bring down interest rates to some level that Italy may be able, in the short run, to afford to pay. And the other is to give

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Taking a Hard Look at Italy

Rome

With yields on Italy’s 10-year government debt rising sharply higher and beyond the seven-percent ceiling deemed unsustainable, Italy is running out of options in finding buyers for its debt. It is also running out of options as a sovereign nation.

Jan Randolph, head of sovereign debt risk at IHS Global Insight, said, “Italy will not be out of the heat of bond markets until a solid and stable government actually implements austerity and undertakes reforms with strong credible leadership.” That may be asking the impossible.

When Prime Minister Silvio Berlusconi took office in 1994, his government was the country’s 62nd in 64 years. His personal popularity was sufficient to quell concerns about corruption, personal sex scandals, and lack of any plan or intention to install measures that would have begun to rein in Italy’s spending habits. It was easier to give way to the labor unions, controlling 40 percent of the labor force, and offer additional spending programs to buy the votes to keep him in power. Now that Berlusconi has agreed to step down, it is unclear

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The Eurozone Continues to Unravel

CONSTANTINE PALACE, STRELNA. Italian Prime Min...

With Greece’s Prime Minister George Papandreou agreeing to step down in order to secure more bailout funds from the ECB, attention turned immediately to Italy’s financial problems that dwarf those of Greece’s. The Greek PM’s decision now clears the way for an interim government to agree formally to the new austerity measures demanded by the European Union as a condition of receiving additional financing by the end of the month. Those funds are needed to pay Greece’s bills through January 2012.

The bond market shifted its attention to Italy on Monday, driving interest rates on its 10-year bond to a record-high 6.66 percent, the highest since the country entered the union in 1999 and perilously close to

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.
Copyright © 2021 Bob Adelmann