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Glass-Steagall Petition Registered in Italy

May 10, 2013 (EIRNS)—A petition for a Glass-Steagall legislation has been registered today at the Italian Corte di Cassazione. The registration is necessary in order to begin collecting 50,000 signatures and introduce the bill into the national Parliament in form of a "Draft Bill by Popular Initiative," as established by Italy's Constitution.

The petition has been launched by a new organization called Comitato di Liberazione Nazionale (National Liberation Committee, CLN). The CLN takes its name from the historical organization of the Italian resistance against Fascism (1943), and was founded by four movements, including Movisol, the LaRouche organization in Italy.

The petition was registered today at 10 o'clock at the Court in Rome by a delegation led by CLN Secretary General Leonardo Magrini and Movisol Secretary General Andrew Spannaus. First, the title of the petition ("Separation Between Ordinary and Speculative Banks") will be published in the official journal of the Italian government, Gazzetta Ufficiale. Collection of signatures will start with a Day of Action in numerous Italian cities on June 30. Once signatures are collected and accepted, the full text of the draft bill will be published.