zzr45
#MURDERINGSCUM
He’s not even Italian. Joes based it all of his neighbor having a dominos delivered one night.
Current Affairs EU In or Out
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abelard
Player Valuation: £35m
Italy Embraces China, and Europe’s Elites Have Only Themselves to Blame
https://www.barrons.com/articles/europes-elites-have-only-themselves-to-blame-for-italys-embrace-of-china-51554481025
Last month, the European Commission declared China “a systemic rival promoting alternative models of governance.” Shortly thereafter, the government of Italy formally signed on to China’s Belt and Road Initiative. The deal includes commitments to open Italy’s ports to Chinese investment, partnerships between Chinese and Italian banks, and contracts for Italian companies.
Italy’s neighbors have treated its endorsement of the BRI as an affront to European security. Günther Oettinger, the European Union’s top budget official, suggested giving the EU the power to block Chinese investments to preserve Europe’s “autonomy and sovereignty,” even if that meant overriding national governments. Heiko Maas, Germany’s foreign minister, warned Italy that “countries that believe they can do clever business with the Chinese will wonder when they suddenly wake up in dependency.” Mark Rutte, the Dutch prime minister, suggested the Italians were “naive,” while French President Emmanuel Macron chastised them for reaching a deal with China without having consulted him first.
While there are good reasons to be cautious about Chinese investment, Europe’s elites have no moral authority to criticize Italy’s move. Austria, Denmark, Finland, France, Germany, Luxembourg, and the Netherlands are all members of China’s Asian Infrastructure Investment Bank. Central and Eastern European countries have been recipients of Chinese capital for years as part of the 16+1 framework, as have Greece and Portugal under their own separate deals. Luxembourg signed up to the BRI just a week after Italy did and has also managed to avoid condemnation.
More to the point, Italy’s desperation to attract Chinese capital is a natural consequence of Europe’s own failures. Like many other European countries, Italy is plagued by idle factories, mass unemployment, and unmet material needs. Domestic spending is still 8% below what it was in 2007. There is plenty of spare capacity to boost production, which means Italians ought to be consuming more goods and services and making more investments in worthwhile projects.
When other countries find themselves in this situation, they respond by cutting taxes and boosting spending to generate additional income for the private sector. Unfortunately, Italy, like most other European countries, does not have that option. Europeans have rejected basic macroeconomics in favor of an ideological commitment to balanced budgets, which is why the EC has ordered the Italian government to slash its spending despite an obvious surfeit of material resources. Without a mandate to support growth, the European Central Bank has been forced to adopt the bizarre policy of only buying bonds issued by governments that have essentially stopped borrowing.
These unnecessary financial constraints have strangled public spending and needlessly starved Europe of investment. Before the euro crisis, the 19 member states of the euro area were collectively investing about 0.8% of their economic output in infrastructure net of maintenance costs. About two-thirds of that net investment came from the five crisis countries of Greece, Ireland, Italy, Portugal, and Spain. By 2012, those five governments had collectively cut their infrastructure spending by 40%.
Net investment in those countries, and in Europe as a whole, has been roughly zero ever since. Nearly the entire decline in European public investment can be explained by the contraction in the crisis countries. It is unsurprising they have been eager recipients of Chinese capital.
None of this is to say that Chinese investment is costless. Countries around the world have been saddled with bad debts, political subjugation, and environmental despoliation as a consequence of their participation in the BRI.
Europeans are right to worry that financial dependence could lead to a loss of sovereignty—although that is precisely what they signed up for when they created the common currency. The question is whether China could be a worse partner to Southern Europe than the Dutch, Finns, and Germans have been.
https://www.barrons.com/articles/europes-elites-have-only-themselves-to-blame-for-italys-embrace-of-china-51554481025
Last month, the European Commission declared China “a systemic rival promoting alternative models of governance.” Shortly thereafter, the government of Italy formally signed on to China’s Belt and Road Initiative. The deal includes commitments to open Italy’s ports to Chinese investment, partnerships between Chinese and Italian banks, and contracts for Italian companies.
Italy’s neighbors have treated its endorsement of the BRI as an affront to European security. Günther Oettinger, the European Union’s top budget official, suggested giving the EU the power to block Chinese investments to preserve Europe’s “autonomy and sovereignty,” even if that meant overriding national governments. Heiko Maas, Germany’s foreign minister, warned Italy that “countries that believe they can do clever business with the Chinese will wonder when they suddenly wake up in dependency.” Mark Rutte, the Dutch prime minister, suggested the Italians were “naive,” while French President Emmanuel Macron chastised them for reaching a deal with China without having consulted him first.
While there are good reasons to be cautious about Chinese investment, Europe’s elites have no moral authority to criticize Italy’s move. Austria, Denmark, Finland, France, Germany, Luxembourg, and the Netherlands are all members of China’s Asian Infrastructure Investment Bank. Central and Eastern European countries have been recipients of Chinese capital for years as part of the 16+1 framework, as have Greece and Portugal under their own separate deals. Luxembourg signed up to the BRI just a week after Italy did and has also managed to avoid condemnation.
More to the point, Italy’s desperation to attract Chinese capital is a natural consequence of Europe’s own failures. Like many other European countries, Italy is plagued by idle factories, mass unemployment, and unmet material needs. Domestic spending is still 8% below what it was in 2007. There is plenty of spare capacity to boost production, which means Italians ought to be consuming more goods and services and making more investments in worthwhile projects.
When other countries find themselves in this situation, they respond by cutting taxes and boosting spending to generate additional income for the private sector. Unfortunately, Italy, like most other European countries, does not have that option. Europeans have rejected basic macroeconomics in favor of an ideological commitment to balanced budgets, which is why the EC has ordered the Italian government to slash its spending despite an obvious surfeit of material resources. Without a mandate to support growth, the European Central Bank has been forced to adopt the bizarre policy of only buying bonds issued by governments that have essentially stopped borrowing.
These unnecessary financial constraints have strangled public spending and needlessly starved Europe of investment. Before the euro crisis, the 19 member states of the euro area were collectively investing about 0.8% of their economic output in infrastructure net of maintenance costs. About two-thirds of that net investment came from the five crisis countries of Greece, Ireland, Italy, Portugal, and Spain. By 2012, those five governments had collectively cut their infrastructure spending by 40%.
Net investment in those countries, and in Europe as a whole, has been roughly zero ever since. Nearly the entire decline in European public investment can be explained by the contraction in the crisis countries. It is unsurprising they have been eager recipients of Chinese capital.
None of this is to say that Chinese investment is costless. Countries around the world have been saddled with bad debts, political subjugation, and environmental despoliation as a consequence of their participation in the BRI.
Europeans are right to worry that financial dependence could lead to a loss of sovereignty—although that is precisely what they signed up for when they created the common currency. The question is whether China could be a worse partner to Southern Europe than the Dutch, Finns, and Germans have been.
As if his passport is invalid he put his passport number on my sons application form ....oh by the way he got it passed super quick ....
Still waiting for my apology ........
Bruce read my post he's been a neighbour for over 15 years he has been in the UK a hell of a long time probally in his youth - he lives in a massive detached house next door to me - he employs people in a small firm he has probally been here since his youth - I only say hello to him - my son knows him well, obtaining a passport was a doddle I was there when he filled it in with his passport number on my sons application form, and I get called a liar ....
How low can this thread get?
I will Baldric you you ginger numpty - my son got his passport signed as I stated - I do t like getting called a liar by nobheads on this thread your only jealous of his Porsche oh by the way I bought my Vauxhall estate off him 9 years ago he used it for work purposes - he also has personalised number plates on both his cars .......
He's worth a few bob, but his passport number went on my sons application form for a new passport reason neighbor known him for many years as simple as that passport for my son was back within ten days...
He sounds like quite the character
Emlynsqueakyvoice
Player Valuation: £6m
Of course I have no idea if this man has British Nationality. Read Joey's post, the bit where he said that even his Italian neighbour voted Leave. I wasn't the first to call bs on that post, but plainly you cannot vote in this referendum if you are Italian. I went on Joey's information. Always a dangerous thing...
His eldset daughter is a school teacher, Look the first thing I asked him had he done passports before no problems he stated......
Emlynsqueakyvoice
Player Valuation: £6m
@Joey66, go and knock on Porsche boy's mansion and ask him if he is British. If he says no then he couldn't vote in the referendum. If he says yes then he could. You may then wish to amend your clearly misleading post that ignited this last few pages. You'll not require an apology from myself in this case, and I'll have no need whatsoever to apologise to you....
He came over to the UK educated himself, and works like a Trojan - first I was told on here I was a racist now a liar - he drops a bottle of the best wine going at Xmas - I don't benefit from that being a diabetic.....?..
summerisle
The rain, it raineth every day
Interesting podcast touching on this if you’re interested
Note Brexit party been going only since yesterday and they are on 15 percent the Remain party on 8 percent......
The Brexit Party was launched on January 20th. The poll above was held on the 10th and 11th April so clearly Brexit Party is older than a 1 day.
EDIT: Just to add to that is was registered with the Electoral Commission on Feb 5th
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