It was always going to be an unusual but memorable moment as Italy's parliament reconvened after the recent inconclusive elections, with members of the maverick party founded by comedian Beppo Grillo taking their places for the first time.
And so it is proving. Southern Europe editor John Hooper writes:Not since the dawn of the Italian Republic after the Second World War, when ex-Communist partisans arrived in force, has there been an opening of parliament anything like today’s.The representatives of the Five Star Movement (M5S) unexpectedly respected the rule that male Italian lawmakers must wear ties (though, in line with the M5S’s enivronmentalist principles, many chose a black one bearing the words “No Coal”). But from the moment that the movement’s deputies entered the Chamber, it was clear they were going to be awkward to deal with.Instead of taking up a position on the left or right of the semi-circle in which the members of the lower house sit, the M5S’s deputies (who prefer to be called “citizens”) ranged themselves around the back.“Neither right nor left, but above (and beyond),” chirped one of their number, Tiziana Ciprini, on her Facebook page.The whole episode reflected the view that the movement’s co-founder, the comedian, Beppe Grillo, put to me in an interview last month: that the M5S cannot be fitted into conventional political categories.It is one of things that worries many Italians about the M5S. Most of the so-called grillini are passionately committed to progressive causes (they eschew the mineral water that is everywhere available in parliament in favour of tap water, for example). But denying the existence of left and right is a classic sign of populism. And Mussolini did it all the time.
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Cyprus - The island’s government has announced that, following pressure from finance ministers in the eurozone, it is introducing a levy on all bank deposits in the country to pay for a rescue package for its troubled economy.
Suggested levies of 6.75 per cent of all deposits up to €100,000 (£86,500) and 9.9 per cent for larger deposits sparked chaos as people unsuccessfully attempted to withdraw their money from banks. Cyprus had to stop people accessing their savings — an emergency measure that is unlikely to be lifted in the coming days.
But it was the precedent that may have been set by the terms of the bail-out that was causing concern among international investors who were previously hopeful that European economies were finally recovering.
There were fears that savers in other nations in economic difficulty may start withdrawing bank deposits, a move that could have disastrous consequences. Financial figures from across the world warned of the dangers.
The Eurozone man made financial problems are the same as our American man made financial problems. Politicians, who are often wrong but never in doubt, decided they could command the finances, family structures, and national treasures of our nations. It has not yet become apparent to them that that they don't know how to do that. It is apparent to them that things are not going well in those areas so richly endowed by their half-vast legislative abilities.
It is difficult to get rid of a particular political mindset after that political mindset has become an elite institution of career politicians whose younger members learn to succeed in our respective political corporate structures under the teaching of the institutions older failures. Unfortunately, the older political failures have separated their lives from the lives of the people they govern. America and Europe now have a rich, elite, self sustaining class of wealthy politicians whose wealth and security are not subject to the same rules as the governed people.
There is a movement in the United States to return government power back into the hands of the governed as George Washington, John Adams, and our founders intended and practiced themselves.
Our constitution is sufficient as a legal platform to do that. The problem is getting the necessary people educated and willing to accept the task. Whether that can actually be done is a little on the 'IF' side. we need somme Devine intervention for success. Our Founders received the help of God, Maybe he will help us again.
The concept of a bank is to keep people's money safe. In the same way we have had marriage redefined, we are witnessing what security now means. This may be happening in Cyprus but I would not be surprised to see monies from across the EU start moving.
Der Spiegel states: " For the first time in the three-year euro crisis, Russia is also likely
to participate in the bailout. European Economic and Currency Affairs
Commissioner Olli Rehn said Russian Finance Ministry officials indicated
they would consider easing the terms of a €2.5 billion loan paid to
Cyprus two years ago."
Der Spiegel states: " For the first time in the three-year euro crisis, Russia is also likely
to participate in the bailout. European Economic and Currency Affairs
Commissioner Olli Rehn said Russian Finance Ministry officials indicated
they would consider easing the terms of a €2.5 billion loan paid to
Cyprus two years ago."
Der Spiegel states: " For the first time in the three-year euro crisis, Russia is also likely
to participate in the bailout. European Economic and Currency Affairs
Commissioner Olli Rehn said Russian Finance Ministry officials indicated
they would consider easing the terms of a €2.5 billion loan paid to
Cyprus two years ago."
The true face of the EUSSR
When things get tough raid the assets those who are saving.
Oh just like Gordon Brown did.
I have voted Tory for 40 years but no longer. They have the power to take us out of the ensuing catastrophe but do not have the balls.
It's UKIP all the way now.
Breaking News EU president Van Rompuy to leave politics end of 2014 Cyprus: key stages in island's financial crisis Russian deposits of $20 billion face Cyprus tax European Parliament chief raises concerns over Cyprus deal Cyprus delays EU bailout debate as MPs baulk at terms News Feed
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cypriot Outrage Over Tax Could Derail Euro-Area Bailout
Bloomberg
Europe braced for renewed turmoil as outrage in Cyprus over an unprecedented levy on bank deposits threatened to derail the nation's bailout. European shares and the euro tumbled. Cypriot President Nicos
Cyprus bank deposits, charged as part of a financing agreement
Cypriot Parliament postpones vote on tax deposits
Journal of crisis 03/18/2013
* Update 5:45 p.m.: Cypriot banks will remain closed on Tuesday and Wednesday
Banks will remain closed until Thursday in Cyprus, today announced a source from the Central Bank, as www.HotNews.ro.
"Banks will be closed Tuesday and Wednesday," said the official reason of the avoidance of endless lines at counters.
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* Update 4:35 p.m.: Gazprom denies that Cyprus would be offered financial aid
Russian group Gazprom has proposed Cyprus financial aid in exchange for prospecting licenses, said today the company's spokesman, Sergei Kupriyanov, press sources reported as agency RIA Novosti.
Previously, Cypriot television channel Sigma TV reported that the Russian group has proposed an aid ...
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