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Tuesday, 29 May 2018

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I feel your quote of Marshall Foch may have been misplaced, given that his attack resulted in a significant victory on the Marne.

Plus I think you have left and right interchanged; the schleifen plan called for the German right to envelope the French left- Foch's response was to threaten envelopment of the German left with the French right.

"...their sinecure jobs and perks and pensions all depend on the status quo remaining absolutely intact." Let somebody who is a bit of an outsider take the helm at #10 Downing St. who manages to upset all this status quo money wasting and watch the feathers fly if he or she catches on with the public!

On the subject under discussion however, the EU may well have overreached. Threatening chaos to Italian markets may be enough to get certain Italian politicians in line, but it may also trigger a collapse of Italian banks. If so there ain't enough money in the whole EU to bail them out, even on the extend and pretend basis that they "bailed out" Greece. The only option will be for Italy to default on part of its debts, and probably leave the Euro so that it can devalue. Since Italy has a primary surplus, i.e. it's only borrowing to pay past debts, this wouldn't hurt Italians much.

The situation with Italian banks and EU banks in general are leading a stock market route over here for now.

The situation re. Italy is leading to worldwide market falls. Precipitated by a move supposed to create stability.

Italian President Sergio Mattarella may have just pulled off a silent coup? The message to the masses is pretty clear and in the next election, they are expected to vote 'correctly'. It seems there is quite a bit of that expectation going on in Europe today.

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