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Rome on the Brink as Detroit-Style Bankruptcy Meltdown Looms

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posted on Feb, 27 2014 @ 01:12 PM
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Meltdown Looms




Mayor Ignazio Marino told the Wall Street Journal that he is in daily discussions with Italy's national government.

But he stressed the parties "just needed to identify the right amount of money the government should give to Rome".

Marino explained the capital deserved state support because of the vast amounts of tourists who flock to the city, but fail to contribute to its fragile economy.




Financial fear mongering or are we going to start seeing more stories like this in the coming future?

Maybe some of our members, who are closer to the situation, can give us their take.




posted on Feb, 27 2014 @ 01:27 PM
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'the right amount of money the government should give to Rome'????

Wow, talk about hubris. If your city can't support itself even with a constant influx of rich tourists, maybe you're doing something wrong.

Invade the Vatican and sell off all their stolen wealth (better yet, return it to the people they stole it from); charge more admission to the Coliseum... use your imagination, I'm sure if the original Romans were in charge, they would have figured out something.

Maybe it's time to bring back the gladiators. Pays well enough on US teevee.



posted on Feb, 27 2014 @ 01:29 PM
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reply to post by slowisfast
 


Sounds like the Mayor is trying to shake down the Government for money.

Yes, I'm sure tourists flock to Rome in droves. I'm also sure they didn't bring bag lunches and cots to sleep on in the streets. The Mayor's contention tourists don't spend money in the local economy...is ludicrous at best.

Des



posted on Feb, 27 2014 @ 01:35 PM
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reply to post by slowisfast
 


Many, many, city governments all over the world have spent beyond their means with bloated salaries and retirement programs that would have closed the doors of most businesses long ago. They always figured they could raise taxes when they got in a bind which worked until people started moving and businesses started getting out of the tax hungry states and cities.. I do not feel sorry for places like California and Detroit and now Rome being tied to Italy go figure......



posted on Feb, 27 2014 @ 01:58 PM
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reply to post by slowisfast
 


Kind of makes you wonder where all the money that's being pumped into these economies is going? Follow the money.



posted on Feb, 27 2014 @ 04:14 PM
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Maybe the Vatican bank can bail them out?




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