European Commission : Speech by Vice-President Rehn at the Italian Parliament

European Commission : Speech by Vice-President Rehn at the Italian Parliament

(from 4-traders.com)

“The Council in July made a series of recommendations to Italy: reduce the public debt; implement reforms in labour and product markets; and improve the functioning of the administration and justice system. With one of the highest labour-tax burdens in the EU, Italy was also urged to shift the tax burden away from productive factors. … Moreover, at the current juncture, we must address the weaknesses remaining in our banking sector … The next is the creation of the Single Resolution Mechanism, which will aim to ensure that the use of taxpayers’ money is exceptional and minimised. Any funding needed for bank resolution should thus come primarily from the industry itself. “

Yadda, yadda, yadda, banksters will just eat your pensions in usury and corporate welfare, yadda yadda yadda.

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