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Rome elects first female mayor in breakthrough for Five Star Movement

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Rome is to be governed by its first woman mayor as Virginia Raggi, of the Five Star Movement (M5S), scored a dazzling electoral victory with as much as 67 per cent of the vote.

It marks a bitter blow for the Italian prime minister, Matteo Renzi, and his embattled Democratic Party, whose candidate could manage only about 33 per cent. 

"A new era is beginning with us," said Ms Raggi, who won in the run-off ballot. "We'll work to bring back legality and transparency to the city's institutions."

The decisive victory for the telegenic 37-year-old lawyer and her anti-corruption platform marks a huge shot in the arm for the anti-establishment party headed by the raucous comic Beppe Grillo who was in Rome at M5S headquarters celebrating with Ms Raggi.

http://www.telegraph.co.uk/news/2016/06/19/rome-set-to-elect-first-female-mayor/

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if she lets the puppet masters pull her strings she will last the 5 years if not she will be kicked into touch like Pizzarotti o Comacchio or any of the ones who used their brain cells rather than chanting the M5S same rubbish

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Italy seems great on puppet politicos, and she's quite obviously not going to sort Rome's problems, BUT Five Star has the solution to Italy's main problem.  In fact your dear friend Silvio had more or less the same idea, before he was speedily replaced by fully paid-up EU puppet. :) 

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I am afraid I don't believe in that solution and even less in a supposedly "democratic" M5S where people are giving the illusion they count, as long as they don't question things, cause if they do it won't take them long to be kicked out and where decision are taken by 2 people one of whom is only there because his father was a co-founder of this movement

 

 

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It doesn't matter who does it, but someone has to face up to harsh reality.  Italy's currency is now about 35% overvalued, and this can't go on much longer.  Personally, I don't think that the proposed southern euro is a workable answer; it would be economically shackling Italy to Greece, which can't be good for what's still left of Italian industry.

Either Renzi wakes up one morning and thinks damn the ECB we have to do it, and swiftly, or he joins the long roster of failed politicians.  A Friday night "surprise" announcement is always the preferred method.  Just make sure you don't have too much....  ;)

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one thing for sure is that whichever way the vote goes in UK tonight there be waves within the EU. It sounds like the remain are on the winning side, given the concessions Cameron got to stay in the EU there will be other countries wanting things to change for them too.

There is going to be 1 almighty unhappy bunny (country) tonight it starts with G because whatever happens things are not going to be the same as before

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8 hours ago, Emilia Sforza Loredano said:

oh dear the city got it wrong and Sterling is going down 

And up again!  Well, the UK now has an Liberation Day too! :D

Wake up Italy and put away those "pannicelli caldi" - you need a new road and it's called Via Italia!

Ultimately the bunny who's name starts with G will be happier than ever before when the Italian economy starts to grow once again; don't keep her hanging on!

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Sterling is 1.22 has not been that low in ages and the run on Sterling has not even started. I hope the bank of England has got enough reserve (given UK  is not in the even in the top 10 countries) the London stock exchange is down too not much to be happy about

I feel sorry for young people in UK with massive mortgages when interest rates will start to go up to keep Sterling afloat

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I am fuming if what I have just heard on the news is correct. Apparently the European central bank is ready to step in to help Sterling from going down big time.

The vote was for out, right, out you are let the Bank of England step in to support Sterling not European money 

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1 hour ago, Emilia Sforza Loredano said:

I am fuming if what I have just heard on the news is correct. Apparently the European central bank is ready to step in to help Sterling from going down big time.

The vote was for out, right, out you are let the Bank of England step in to support Sterling not European money 

It is all funny money - it does not really exist!  It's only worth anything because people have confidence that things will continue tomorrow much as it did today.  If people stop believing in the emperor's new clothes they stop believing in the same kind of new clothes on emperors everywhere.  The buzz word for this is international monetary stability.  The central banks have no option, and Sterling will not go down "big time" because greed rapidly overtakes fear in markets.

I'm in regular contact with a large Irish investor who had a huge windfall fairly recently, and he's just waiting for an opportunity to switch his Euro cash-pile into Sterling.  He needs Sterling because he has a house in Ulster too, and his kids get a much better education at UK schools.  He is one of many such investors who will try to take cash off bankers who sell Sterling short.

Every pound today has exactly the same backing in national wealth as it had yesterday, all that has changed is a perception of the prospects for the UK economy.  That the world's fifth largest economy (shortly to overtake the world's fourth largest) can't earn its way in the world better outside the overall control of European politicians who have failed in their home country, is an illusion that will be dispelled relatively quickly.

Another Euro crisis is already brewing and the markets will switch to fretting about that.  The UK will be saving going on for £400,000,000 a week in EU contributions quite soon (yes some of it comes back as rebates with huge strings attached, but it's not really UK money then), and the EU has to find most of this this money from other nations somehow.  Mrs Merkel is in no position to write out a cheque for this with the AfD and others breathing down her neck, so where is this money coming from?  There's also a concealed £20BN hole is the delayed EU budget, where is that money coming from?  Will you be complaining when the BoE is helping to maintain confidence in the Euro?

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4 hours ago, Emilia Sforza Loredano said:

Sterling is 1.22 has not been that low in ages and the run on Sterling has not even started. I hope the bank of England has got enough reserve (given UK  is not in the even in the top 10 countries) the London stock exchange is down too not much to be happy about

I feel sorry for young people in UK with massive mortgages when interest rates will start to go up to keep Sterling afloat

IF house prices fall the predicted 5% that will be great for first-time buyers, and will be great for people trading up.  If you are trading down you'll hardly miss it.  The market is way overheated in any event, and a fall is long overdue.

Mortgages are very low and have been carefully regulated as to affordability over recent years - there's probably no one to feel sorry for.  They are A LOT higher than bank rate though, so a doubling in bank rate (say from 0.5% to 1%) wouldn't have a significant impact.  Inflation isn't a problem, it's the lack of inflation that's the problem - these are not normal times!  The upside is that savers might get some sort of return on their money, at the moment it's derisory.

Markets live: FTSE 100 finishes the week up more than 2pc after recovering from 8.7pc drop as pound falls to 7-year low

https://encrypted.google.com/finance/chart?client=firefox-b&biw=1236&bih=634&q=CURRENCY:GBPEUR

1 British Pound equals 1.23 Euro

Were you panicking in 2011 and 2013 too?

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I certainly don't want to go to 1/1.05 again 

i look forward to see this bed of roses the UK is going to turn into

By the way when are the "leaving campaigners" going to keep their word and start putting £350M a week into the NHS?

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The UK has had its credit rating outlook downgraded to "negative" by the ratings agency Moody's after the country voted to leave the EU.

Moody's said the result would herald "a prolonged period of uncertainty".

Meanwhile, PM David Cameron is under pressure to speed up "divorce" talks with the EU after Brussels said exit negotiations should start immediately.

EU head Jean-Claude Juncker said it was "not an amicable divorce", but it was "not a tight love affair anyway".

Moody's said the referendum result would have "negative implications for the country's medium-term growth outlook", and it lowered the UK's long term issuer and debt ratings to "negative" from "stable".

Tipped favourite

It added: "In Moody's view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget."

It also said the UK had one of the largest budget deficits among advanced economies.

 

http://www.bbc.com/news/uk-politics-eu-referendum-36626201

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Well all the forecasters got the result wrong, why should they be any better at this.

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1 hour ago, Emilia Sforza Loredano said:

AAA gone too, Sterling £1/1.19€ down 10c from day before referendum joy not

and the Stock Market is already recovering, " We told you earlier that the FTSE 100 had opened slightly up this morning. Well, there's some good news too for the battered FTSE 250 as well, which is 3.2% higher. The biggest riser is Marshalls, up 12.7%, with G4S up 10.6% and Redrow 9.4% higher.  The FTSE 250 is made up of a broader range of companies than the largely multi-nationals which make up the FTSE 100 stocks." and the £ is now €1.20. I believe things will settle down pretty quickly.

Also this from another forum:

In a letter to a friend, dated 30th April 1952, from Jean Monnet, one of the 'founding fathers' of the EU:

 

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"Europe's nations should be guided towards a super state without their people understanding what is happening. This can be accomplished by successive steps each disguised as having an economic purpose, but which will eventually and irreversibly lead to federation." The single currency was the most important of these steps: as Monnet said, "Via money Europe could become political in five years." - Jean Monnet

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Yes it is all a bed of roses for the UK 

I don't have a problem with a European federal state on the line of the USA I have just heard Farage speach at the EU parliament with his usual blah blah well Mr Farage I certainly I have no interest in having a friend like you and the best reply to his verbal D was "well you are out so what are you doing here" brilliant succinct reply 

 

 

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Forgot to add pity the Tory Chancellor said that there will have to be higher taxes and cut in spending in the near future

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16 minutes ago, Emilia Sforza Loredano said:

Yes it is all a bed of roses for the UK 

Of course it isn't, but I doubt it would have been any different.  All this is just knee jerk reaction.  There is a lot of negotiation to be done before Britain leaves the EU, and there is a whole world out there to build up trade with. The EU isn't the be all and end all of everything.

 

 

 

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What I find despicable about Brexit it is not the right of Britain to come out of the EU etc if that had been done by supporting their case with valid arguments on the pros and cons. All I have seen of Brexit propaganda is blame foreigners for everything with a campaign that went beyond racist, all foreigners are scrounging off the UK and taking jobs away from British people. That's despicable and incidents of pure hatred,  see cards left near houses where Polish people live, calling them scum go home you vermin etc etc  have now started but during world war 2 the Poles were welcome when they had to put their lives on the line. 

 

The truth of the matter is that there are only 3 countries in the world that count, they are Russia, USA China everyone else is a little pawn in world politics 

 

 

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7 hours ago, Emilia Sforza Loredano said:

 

I don't have a problem with a European federal state on the line of the USA

It looks now though, that they are talking about going further than that.  They are talking about Europe as one country - so everything set centrally, with no option for individual "states" to set their own taxes etc.

 

 

 

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The problem is that there is an European parliament, we elect MEPs but they don't have any power to legislate as heads of government make all the final decisions and that's where the problem is. The more powerful government/s will bully the others.in doing what they want and it is in their  own country best interest 

The EU must change how it works because sorting out whether bananas should be straight or not is no longer an option. The new structure must be like something along the lines of USA, Switzerland where some things come under "federal" but each state has its own identity and area of decision making.

At the end of the day even government don't really count that much anymore the ones that dictate policies are the huge financial organisations and multinational companies.the big force behind globalisation which has lower living standards everywhere 

 

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