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Link here explaining what has happened and who is behind it:blog.prospect.org...
But imagine if the U.S. couldn’t sell its Treasury notes (which has never been a problem, let’s be clear), and the IMF and Germany and China got together and said that Barack Obama, Joe Biden, the Cabinet and the Congress had to go. Imagine that they then designated as Obama’s successor, say, the guy who followed Tim Geithner as head of the New York Fed (I don’t even know who that is), or Robert Zoellick, the American who heads the World Bank. That’s essentially what just happened to Italy and Greece.
Originally posted by icepack
i have to partypoop a bit: these arent some of the oldest democracies in europe. italy is democratic since the 2nd world war, before it was a monarchy. greece is a democracy since 1973 when a military junta was chased away by a student revolt.
the democratic elected leader took too many credits over the decades to get reelected. now the bill has to be paid. to give economic professionals the power is ok with the laws in those countries and intelligent, imo. these power changes did not change the laws in thes countries, they are still constitutional democracies.
reply to post by icepack
italy is democratic since the 2nd world war, before it was a monarchy
Mario Monti was born in Varese on 19 March 1943. His father hailed from Varese (though he spent much of his life in Argentina after emigrating during World War II), and his mother was born in Piacenza. Mario Monti holds a degree in economics and management from Bocconi University, Milan. He completed graduate studies at Yale University, where he studied under James Tobin, the Nobel prize-winning economist. He taught economics at the University of Turin from 1970 to 1985 before moving to Bocconi University, where he was its Rector from 1989 to 1994, and has been its President since 1994. He was also the President of SUERF (The European Money and Finance Forum) from 1982 to 1985. His research has helped to create the 'Klein-Monti model', aimed at describing the behaviour of banks operating under monopoly circumstances. Monti is a member of the Presiderium of the Friends of Europe, a leading European think tank, was the first chairman of Bruegel, an European think tank founded in 2005. He is the European Chairman of the Trilateral Commission, a think tank founded in 1973 by David Rockefeller. He is also a leading member of the infamous economic lodge called Bilderberg Group. Monti is an international adviser to Goldman Sachs and The Coca-Cola Company.
Ahi serva Italia, di dolore ostello,
nave sanza nocchiere in gran tempesta,
non donna di province, ma bordello!
Originally posted by woodwardjnr
I find it all a little strange. It seems that 2 democratic countries have had a banking coup and no one has battered an eye lid. What happened to all the protesting in Italy and Greece, surely if your countries leaders as bad as they may have been, are replaced by undemocratically elected technocrats then that is enough to send anyone on to the streets. My own theory is that citizens of these countries have been paralysed by the shock doctrine.
Convince the population that the nation will crumble unless some unelected banking servant comes to save your nations finances.
Good OP though, would be interesting to hear what the Greeks and Italians think about it.edit on 17-11-2011 by woodwardjnr because: (no reason given)