Saturday, 26 January 2013

A Tax on All Our Houses to Pay for Political Client Creation

After the appalling revelations of what the Democratic Party has been up to at the Monte dei Paschi their leader,  Bersani,  has explained that the Foundation that controls the bank (and is in turn controlled by Democratic party councillors elected in the city of Siena and its province) is not the Democratic party, and hasn't done anything anyway: a big boy did it and ran away.

The Italian prime minister has called for the unravelling of political party and banking ties, not just in Italy but throughout Europe (a supra-national banking authority should do it).  He added that of course the Democratic Party and its functionaries are responsible for the Monte dei Paschi scandal.

Shareholders, social partners and stake-holders all voted yesterday for a tax-payer funded bailout (whatever happened to shareholders taking the hit?  Northern Rock,  its surrounding circumstances and Labour party bail-out have a lot to answer for as exemplars of political chicanery) and we look at the enormous bills coming in on our property, even the perfectly ordinary property of perfectly ordinary people, charged even before the bail-out is in place, to raise the four billion euros for the Democratic Party's cat's-paw bank.

It is disingenuous of Mario Monti to deny the link between property taxes already visited on us all (denounced  by the European Union as unfair) and this bank's second bail-out just because the tax-rise occurred before the acceptance of these bail-out conditions.  But it is downright dishonest of Bersani and his faction to deny that communists, and now proto-communists, have been running Siena and using its wealth for their own nefarious purposes  for generations.

Apart from Antonveneta where has all the rest of what these kind of people persist in regarding as social capital, gone?

No comments: