from The Daily Bell:
The great Lira revolt has begun in Italy … Italy’s Five Star Movement has thrown down the gauntlet, calling for a euro referendum to end depression and save democracy, writes Ambrose Evans-Pritchard … The die is cast in Italy. Beppe Grillo’s Five Star movement has launched a petition to drive for Italian withdrawal from Europe’s monetary union and for the restoration of economic sovereignty. “We must leave the euro as soon as possible,” said Mr Grillo, speaking at a rally over the weekend. “Tonight we are launching a consultative referendum. We will collect half a million signatures in six months – a million signatures – and we will take our case to parliament, and this time thanks to our 150 legislators, they will have to talk to us.” – UK Telegraph
Dominant Social Theme: Beppe Grillo: a comic hero of the working class and euro avenger.
Free-Market Analysis: And so, the UK Telegraph tells us, it begins … the dizzy unraveling of the euro. But not so fast. We’ve written about Beppe Grillo before. He’s a very successful comic and politician, someone who is influential both culturally and politically.