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Very complex and sometimes contradictory laws High level of corruption within public administration and politics Article 18, a section of the Workers Statute makes layoffs for economic reasons very, very difficult and it is applicable to companies that have 15 or more employees. This is a major reason why Italian companies have so few employees. The other one is that Italian company are mainly family run
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Panic! In my previous post Desperation Bazooka Tactics; Gold Soars Following Huge Headfake , I mentioned " This seems like desperation bazooka tactics.
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Read More: China’s Shadow Banking System Collapses Exposing Numerous Ponzi Schemes; Implosion Reaches Critical Mass
Louis Hooffstetter said…
See original article: Why OMT Cannot Possibly Solve Anything; Monti Warns Italian Unions; Over 200,000 Jobs at Risk; Italy’s Insane…
The Wall Street Journal reports Talk of Debt Restructuring Under New Program ‘Not on Table’ The European Central Bank won’t discuss potential write-downs on debt bought under its new bond-buying program, ECB executive board member Joerg Asmussen said Tuesday.
For further discussion, please see Target2 and the ELA (Emergency Liquidity Assistance) program; Reader From Europe Asks "Can You Please Explain Target2?" Moreover, the recently hatched OMT plan of Mario Draghi in and of itself has potential unlimited liability in that it allows unlimited purchases of sovereign bonds for which Germany and other countries are responsible for their share of the pie in accordance with percentages noted in the above link. Finally, please note that 37,000 people signed a petition against this deal, and polls show it likely would not have passed if put to a vote.