Mario Monti Generously Offers To Stay On As Italy's Unelected Head
December 23, 2012 - 9:44am
Yesterday, the man planted by Goldman to be Italy's unelected leader in November 2011, officially stepped down and shortly thereafter his government was dissolved in advance of the February 25, 2013 elections. Yet Monti, under whose helm Italy has been in deep recession since the middle of last year, where consumer spending is falling at its fastest rate since World War Two and unemployment has risen to a record high above 11 percent, and whose candidacy is vastly unpopular with the Italian population, moments ago generously offered to continue being Italy's unelected leader: just the way Europe's political masterclass and its central bankers want it, if not so much Italy's people. After all, the only thing that has stabilized in Europe, however briefly, is its peripheral bond market, which is merely a function of Draghi's willingness to risk future monetary instability and runawa...
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