Italian Political Crisis Hits Boiling Point---Euro In The Crosshairs

And then all hell broke loose when, just as we predicted, Mattarella's decision simply reinforced the League's hard line position, when shortly after the open League leader Matteo Salvini reiterated his support for Savona, and in a Facebook video said that "either EU rules will change or it makes no sense for Italy to remain in the European Union." Worse, dragging Italy to the verge of the constitutional crisis we warned about yesterday, Salvini turned the nation against the Brussels-lackey president and said that Mattarella "chose EU rules over Italians’ vote" which "is an issue for democracy."

And the punchline: the League would still seek to form a government with people rejected by Sergio Mattarella.

 

 

https://www.zerohedge.com/news/2018-05-28/italian-bonds-stocks-crash-furious-reversal-political-drama-explodes

 

David Stockman's Contra Corner is the only place where mainstream delusions and cant about the Warfare State, the Bailout State, Bubble Finance and Beltway Banditry are ripped, refuted and rebuked. Subscribe now to receive David Stockman’s latest posts by email each day as well as his model portfolio, Lee Adler’s Daily Data Dive and David’s personally curated insights and analysis from leading contrarian thinkers.