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Grillo: French Revolution without the Guillotine

Handelsblatt’s Italian correspondent Katharina Kort had an exclusive interview with Italian politician Beppe Grillo about his ideas for change in Italian politics. The article is in German. However, I have read it and wanted to present a few salient points for discussion.

The outline goes like this:

  1. Headline:  French revolution without the guillotine – The Italian election winner Beppe Grillo calls for radical change in Europe.
  2. Purpose: Not to be Prime Minister but to bring about a “radical rethinking” about the economy in Italy and Europe.
  3. Need: Greater transparency and democracy within Europe.
  4. Actions: Online referendum for Euro. Votes on EU treaties and directives and a lot more
  5. Question: Why has only Germany prospered under the euro
  6. Prediction: The northern Europeans will only support Italy as long as their banks have Italian sovereign exposure.

Again, as our Italian reader summarized for us after the election, the vote for Grillo is more about eradicationg corporatism, corruption and the lack of transparency and democracy in Italy and Europe than about anything else.

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Source: Handelsblatt


Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

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