Euro, BTPs Hit On Local Reports Italy May Hold Early Elections


Tyler Durden's picture

Update: it appears that early elections are indeed coming to Italy, which could be another major calendar event for Italy, and one which would have far more significant consequences for the political make up of the country should M5S win as many expect. From Reuters:

ITALY INTERIOR MINISTER, SPEAKING AFTER CONVERSATION WITH RENZI, SEES NEW ELECTIONS LIKELY IN FEBRUARY – CORRIERE DELLA SERA 

* * *

The Euro has been hit this morning, losing some 50 pips following reports in both La Repubblica and Corriere, that Matteo Renzi may stay in power for several weeks before potential early elections in January-February of 2017. According to La Repubblica, Renzi may ask that early elections are held in near future in return for staying in power until then. As previously reported, the next Italian general election must be held no later than 23rd May 2018.

The move has pressured other Italian assets, with BTP futures retreating from highs and the Italian bank index paring gains as investors focus on potential for Italian elections to be held early next year.

However, there has been some confusion about the date of the snap elections, because President Mattarella reportedly doesn’t see elections in February technically feasible because changes are needed to the country’s election law known as Italicum.

There is another consideration: should snap elections be hald soon, they would likely lead to a victory for Italy’s anti-establishment Five Star Movement, which as noted on Sunday has already called for immediate elections after the outgoing prime minister Matteo Renzi’s defeat in a constitutional referendum, saying it was prepared to put forward a new government that could immediately assume power.

While it appears unlikely that Beppe Grillo, a former comedian and co-founder of the populist party, will get his general election wish, the bold demand showed his Movimento Cinque Stelle (M5S) now has its sights on an even greater electoral victory: one that would eventually land it in the prime minster’s residence in Palazzo Chigi.

As the Guardian reported, many analysts pointed out that M5S still faces considerable obstacles, including probable reforms of electoral law that will make it difficult for the party to get a majority. “But even if such manoeuvres keep it at bay temporarily, one thing is clear: the party is now the second most powerful force in Italy behind Renzi’s diminished Democratic party.”

Vincenzo Scarpetta, a senior policy analyst at the thinktank Open Europe, said M5S would have a fair chance of winning the next general election under current electoral rules, but those rules are likely to change in coming months under the current Democratic-controlled parliament, which may be the impetus behind delaying elections as much as possible, and why today’s report of early snap elections has led to Euro weakness.

The decision to call immediate elections ultimately falls with Italy’s president, Sergio Mattarella.

Austrian Elections – Still the Anti-Socialist Vote


 

alexander_van_der_bellen

QUESTION: Marty, at the cocktail party you said you did not see the far-right in Austria winning for it was not the same. Then you got pulled off. Just wondering what was different in Austria?

Thank you for the conference. Don’y know where you get the energy from.

RP

NorbertHoferANSWER: Cyclically, Austria was not ready for the extreme far-right. They, nonetheless, threw out the socialists. Norbert Hofer is extreme far-right. He often carries a Glock pistol. Austria was where the Great Depression banking crisis really began. Hofer hoped to capitalize on the anti-establishment wave credited with delivering BREXIT and Donald Trump. Alexander Van der Bellen won for the nominally independent Green Party.  Van der Bellen finished second out of six in the first round of elections before winning the second round against Hofer who was the Freedom Party candidate.

The current president if Heinz Fischer, who was of the Socialist Democratic Party. So the election was still against the Socialists. Hofer was too far-right at this point in time. So the change from socialists is still underway. We do not need to go extreme far-right in the political wave of change.

Parallels in History


parallel-in-history

QUESTION: Hi Martin
Since you have a detailed grasp of world history. Can you provide any insight to any parallels with Trump’s election to any period in the past.
PS- Thanks for the great insights on gold and the DOW.

ANSWER: There are countless parallels, far too many to list. Many are partial and others are very similar. There are many parallels to Ronald Reagan insofar as Trump gathered the fiscal conservatives who voted for Reagan and were marginalized by everyone else ever since. Reagan was also an outsider and the rumors were he was a “hawk” and would start World War III. The Washington crowd hated Reagan and feared he would disrupt their corruption. Even if you look to the Venetian Empire, when the Dodge died, his estate was seized and investigated for any corruption he engaged in before his heirs would receive anything. Nobody is seizing Hillary’s estate, but the pervasive corruption she engaged in has had many such parallels throughout history.

Even in Roman History there are parallels from Julian II and Diocletian. Both faced massive political instability and corruption. The assassinated Julian II but allowed Diocletian to become the first Roman Emperor to retire.

 

 


 

Soros Who Says He Does Not Believe in God


Soros & his Link to the Clintons

KOMMONSENTSJANE – CALIFORNIA HAS LOST ITS MIND


All laws like this do is drive companies out of the jurisdiction or just out of business.

kommonsentsjane's avatarkommonsentsjane

December 4, 2016 9:02 PM

Subject:   This is one step too far – Ban the Box in Hiring

If this doesn’t fry your bacon, I don’t know what will—this is simply incomprehensible!! Please take the time to read the entire article—you won’t believe your eyes.

The liberals just don’t know when and where to stop. Who is voting these idiots into office?

Same rules apply to landlords, absolutely insane!

And this is the state that gave Hillary the popular vote—amazing!

Los Angeles Daily News reports on 12-4-2016

Municipal governments:‘Ban the Box’ will make LA more felon friendly:

By:  Doug McIntyre

Municipal Government:

An inmate plays cards in the Men’s Central Jail.  Instead of playing cards why isn’t he working in some capacity?

losangeles

POSTED: 12/03/16

UPDATED: 8 HRS AGO

The hunt for a job is never easy, especially if you just got out of the slammer for plunging an ice…

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Those cryptic markings on John Podesta’s palms — Fellowship of the Minds


He is a creep that is for sure!

kommonsentsjane's avatarkommonsentsjane

Here’s a Sunday evening puzzle for you . . . . While watching another video on YouTube, I came across a video on the cryptic markings on John Podesta’s palms. Podesta is the chairman of the 2016 Hillary Clinton presidential campaign, former White House adviser to Barack Obama, and a former chief of staff in […]

via Those cryptic markings on John Podesta’s palms — Fellowship of the Minds

Reblogged on kommonsentsjane/blogkommonsents.

Just looking at this guy is disturbing and, especially, after seeing and hearing all of the Wikileak information.  This guy is very dishonest.

kommonsentsjane

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