06 August 2012

ITALY / GERMANY : Berlusconi's Newspaper Gets Nasty With Merkel...Comparing Her To Nazis; PM Monti Angers Berlin.


     Not long ago...it was Greek media comparing German Chancellor Angela Merkel...to the Nazis of WW2...because of her severe austerity demands.
    On Friday...Il Giornale...an Italian newspaper owned by ex-PM Silvio Berlusconi...ran a front page foto of her with a Nazi like salute...under the big, bold headline...that translates as 'The 4th Reich.'
    The article was accusatory...and highly inflammatory.
     Recently...Berlusconi has been making noises about running again...under a new party label.
     He has also hinted about leaving the eurozone...and returning to the lira.
     His newspaper has repeatedly attacked technocrat PM Mario Monti for not standing-up to Merkel.
       AND : The USA's S/P ratings agency has downgraded 15 of Italy's biggest banks.
      In February...S/P dropped ratings on 34 banks there.
      These new ratings downgrades are a severe blow to PM Monti's contention in an interview with DER SPIEGEL that Italy doesn't need EU money...just moral support.