The potential for enlistment into the fight for a new system is shown in Italy, where citizens voted March 4, against the anti-nation EU policies. The Italian vote was a continuation of the uprising against Wall Street/City of London economic and geopolitical killer practices, as seen in the 2016 Brexit vote, the 2016 Trump vote, the Austrian 2017 vote, and other manifestations. This uprising process hasn't stopped, but it must go somewhere. That is our responsibility, with the LaRouche Four Cardinal Laws, and the optimism of truth.
The enemy is completely deranged at the very thought of an Italian government coming together, favorable to any of the precepts of the LaRouche Four Laws. The two parties 5-Star and Lega are on record for a Glass-Steagall bank reorganization, and a credit institution. Italian President Sergio Matarella is to announce his decision tomorrow, about a possible M5S/Lega government. Opponents are hysterical. Germany's Second TV station said that Brussels must deal with Italy like a wild horse: put a gag-bit on her, and rein her in. Germany's senior CDU Member of the European Parliament Elmar Brok is presenting horror scenarios: "The Italian economy will collapse. The Italian banks will collapse." Note that Brok supported the British/Obama-orchestrated 2014 Maidan Nazi coup against Ukraine, after that nation's government chose not to align with the EU [in favor of the Russian-led Eurasian Economic Union -- JWS].
At the same time, the casino-economic system these hysterics back, is blowing apart. You can't blame that on Italy. For example, the bubbles have burst of global hot money speculation in Argentina and elsewhere. The Argentine peso has plunged more than 30 percent against the U.S. dollar since the beginning of this year; currencies are dropping in Turkey, Brazil, Mexico, and elsewhere. In three weeks, Argentina has a second round of $30 billion in Lebacs (peso-denominated bonds issued by the Argentine Central Bank) come due, after wild gimmicks were used May 15 to roll over the first batch of $30 bil due this year.
Helga Zepp-LaRouche summed up today, that the "Italy-bashing shows the utmost arrogance and unwillingness to consider why any of this is happening..." But, she said, "The Erinyes are at work!" Or, as Trump said of Russia-Gate changing to Spy-Gate, "What goes around, comes around." This is the time to mobilize.
Conte Gets Mandate as Italy’s Prime Minister; Savona Expected To Be Finance Minister
May 24, 2018 (EIRNS)—If Paolo Savona becomes Italy’s Finance Minister, as the Lega wants, the party for the EU is over. Savona, 82, is an establishment figure with government experience who in recent years turned his originally pro-euro position into a strongly anti-euro one. Savona has demanded Italy develop a Plan B, in case it realizes that staying in the euro is damaging to its national interests.
Two years ago, Savona commented on EIR Founding Editor Lyndon LaRouche’s proposal for saving Deutsche Bank in a private email: “I agree that we need an urgent plan for the European banking system, but the problem has deeper roots. The European architecture is badly built, and this will lead us from one crisis to the next. Probably the euro and the common market will survive, but weaker countries will be taken over by mere protest [political] forces, without solving the problem but just transferring it to the stronger countries.”
Savona waged a battle against the euro together with his university Prof. Giuseppe Guarino. Due to his positions, he was often ostracized by mainstream media, and only the website Scenarieconomici.it would publish some of his articles. Scenarieconomici.it is run by Prof. Antonio Maria Rinaldi, who was a student of Savona’s.
Nevertheless, on Dec. 27, 2017, Corriere della Sera published an article by Savona and Giorgio La Malfa, in which they urged the Italian government to “ask that Germany take the initiative of rethinking the single currency.”
The media portray him as a dangerous anti-German, and reprinted an older interview with Savona in which he compares the EU and German policy to the Nazi Funk plan. The German Manager Magazin wrote: “This 81-year-old-man is the real Euro-shock.”
Savona himself has issued no statement, but he has reportedly resigned from his current job in expectation of joining the government.
Yesterday, Giuseppe Conte received a mandate from President Sergio Mattarella. He will now form the government and go back for the swearing-in ceremony, followed by a confidence vote in the Chamber of Deputies and in the Senate.
Thus, the campaign started by the New York Times to Watergate Conte, alleging that he “embellished” his curriculum vitae failed.
Conte has a respected reputation as a lawyer, but is utterly inexperienced in politics. Thus, people expect that he will be a figurehead steered by the M5S and Lega heavyweights. Depending on the composition of the government, it will be clear which of the coalition partners will have gained more from the deal.
A key post to control Conte is the Undersecretary to the Prime Minister, a post which the Lega is expected to get, either for Giancarlo Giorgetti (if Paolo Savona gets the Finance portfolio) or Lorenzo Fontana (if Savona does not), in which case Giorgetti will become Finance Minister.
Lega head Matteo Salvini is expected to get the Interior Ministry, and M5S boss Luigi Di Maio the Labor Ministry. Di Maio also wants Industry and to merge the two, which is being negotiated.
The key post of Foreign Minister is expected to go to Giampiero Massolo, a former career diplomat, who has also chaired the domestic intelligence agency (2012-16) and is now head of the industrial firm Fincantieri.
It is not clear who will get the Transport and Infrastructure Ministry. The M5S has frightened everybody with their opposition to all infrastructure, and hopefully they won’t get it.
Deutsche Bank To Fire Thousands—LaRouche Was Right!
May 24, 2018 (EIRNS)—Deutsche Bank announced today that it is the slashing “well over” 7,000 jobs—some say 10,000—of its current 97,000 employees, and its corporate and investment bank is expected to lose 25% of its employees, mostly, according to Associated Press, in London and New York.
More will come out of the bank’s annual general meeting held today, where an attempt to oust Deutsche Bank’s Chairman Paul Achleitner, failed by a 90-9% vote to keep him.
However, the reorganizing of Deutsche Bank brings up the question raised by EIR Founding Editor Lyndon LaRouche, who called for the bank to return to the sound commercial bank principles of its martyred Chairman Alfred Herrhausen, who was assassinated on Nov. 30, 1989, rather than continue the failed universal casino banking model.
That very question exploded last month, when Deutsche Bank captured financial headlines April 9, when the bank’s board officially dumped its British CEO John Cryan, and today announced massive layoffs as it downsizes it toxic investment banking division.
Cryan was immediately replaced by Christian Sewing, who has been with the bank since 1989, and who indicated he was downsizing the investment bank side of the business. “The priority is to leverage our strengths and to allocate our investments accordingly. And at the same time, we will look to free up capacity for growth by pulling back from those areas where we are not sufficiently profitable,”
Sewing told The Guardian April 9. “We will continue our activity as an investment and corporate bank and we will remain international but we must concentrate on what we really know well.”
The Guardian also quoted Octavio Marenzi of the consultancy Opimas that, “We can expect a much stronger emphasis on the domestic German market, with a focus on commercial and retail banking, and wealth management. It looks like the board of directors is capitulating on the investment banking front.”
He further warned, “this will hit Deutsche Bank’s London presence particularly hard, where the bulk of its investment banking activity is based. We expect to see those activities right-sized or sold off, with attendant headcount reductions.”