Italy leaving the EU

Atilla said:
You may already know reputable insititutions are now under attack in the UK.

Daily Mail a national newspaper is attacking judges for ruling that Parliament must debate and vote on invoking article 50.

The protest mob seem to think the adivosry referendum is in effect constitutional law and Theresa May can go ahead and do what ever to negotiate and accept/reject anything and everything a few power hungry politicians think is acceptable.


Judges need to be independent and not elected or bi-partisan so it beggars belief what on earth Daily Mail is trying to make. Some politicians support the Daily Mail saying judges aren't elected by the people and because people voted on the referendum this trumps their verdict.

Trial by media. Shocking. http://www.independent.co.uk/news/u...ess-sun-uk-newspapers-condemned-a7396961.html

This is like the highest court in the land is under judgement by the politically biased press saying judges are politically biased. If it wasn't so serious it would be hillariously funny. :!:

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This is what democracy is all about, you need to fight for it every day, the moment you have a break from it can stagnate and deliver the opposite of the democratic value. That is why the people needs to take the destiny in their own hands a have the strength to get rid of the professionals.

Surely you know better than I about English politics but this issues of the justice is a serious problem also in Italy, often they interfere with political motivations and obstruct the democratic flow. Serious reforms are needed.
 
sminicooper said:
Unelected judges deciding who is extremist? Our elected representatives make the law: judges enforce it.
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THE important point is to rule that the extremists are OUT ! There are plenty of padded cells for the lunatic fringe and decent people should not be afraid to put them there. I regret to say there is a certain fascination very often and they might be voted in.
 
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Pat494 said:
THE important point is to rule that the extremists are OUT ! There are plenty of padded cells for the lunatic fringe and decent people should not be afraid to put them there.
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That's what we thought fifty years ago. But they never die; they just hibernate.
 
dbphoenix said:
That's what we thought fifty years ago. But they never die; they just hibernate.
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Surely the old Nazis showed very obvious tell tale signs of their future plans. Hitler was even put in jail for a while.
 
Italy's finance minister says Italy can go bankrupt

Things a government minister shouldn’t say, Italian default edition

"We cannot even remotely afford that an auction of Italy’s government bonds goes uncovered…That would lead to a unique lack of liquidity for the payment of pensions and salaries. It would be like Argentina."
That’s Maurizio Sacconi, the Italian Labour Minister speaking to RAI television yesterday.
And to add a little grist to that disaster-mill, here’s the Italian Finance Minister, also speaking yesterday, but to the country’s parliament:
[Italy’s debt] will be in competition with growing issues of government’s bonds by other European countries.
FT Alphaville » Blog Archive » Things a government minister shouldn’t say, Italian default edition

That was December 2008. Still in a mess, needing reforms.
 
counter_violent said:
Should get lively right from the off. Italian exit poll supposed to be published 10pm (uk) Just as the platforms come to life ! Wide spreads probably, that should take the amateurs out :)

Anyone have a good source?

XE showing Euro will open gap down, when compared to Friday close prices.

http://www.xe.com/currencycharts/?from=EUR&to=USD
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All tame so far.

Bit of JPY strength.

If the vote is yes might see a 2% or 3% move higher with index markets.
 

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If it turns out that way, eu better prepare for a public slaughter of all private investors. Bail-in states that the central bank won't Bail out unless 8 percent of the banks liabilities are paid for at the expense of the creditors.

The EU are going to have to a massive void if banks needing a bailout becomes a reality.
 
forker said:
If it turns out that way, eu better prepare for a public slaughter of all private investors. Bail-in states that the central bank won't Bail out unless 8 percent of the banks liabilities are paid for at the expense of the creditors.

The EU are going to have to a massive void if banks needing a bailout becomes a reality.
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This is what happens when you have complete mismanagement of important things like economies.

Atilla of course, will disagree. :)
 
counter_violent said:
If Renzi is seen as "the establishment", then a No vote to his reforms would be the anti establishment vote, not just anti establishment Italy, but also anti establishment EU.

In which case, you're 4 example trades would probably be correct. The 2 example trades most likely to be conflicted would be Usd and gold. Traditionally, if Usd goes up, then gold goes down and vice versa. (This assumes you would be trading gold in Usd denomination.)

So for me, I would be short Eur and short Dax and instead of looking at gold and Usd, I would be looking at crosses of Jpy. ( risk off positions )
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Dax -150
EurUsd -140
Spot Gold + 100
Jpy crosses all down eg EurJpy -200
 
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