Executive Intelligence Review


Italian Media Report on Glass-Steagall, LaRouchePAC Rally Banner Welcoming Conte

MILAN, Aug. 2, 2018 (EIRNS)—While the Italian agency Vista posted the video of the LaRouchePAC banner welcoming Italian Prime Minister Giuseppe Conte outside the White House on July 30, reading “Benvenuto Prime Minister Conte. Go Glass-Steagall!” an Italian blogger, Cristiano Puglisi, published an Aug. 1 article on Il Giornale’s blog, entitled “Banking Separation, Whatever Happened to It?”

His blog reports that Glass-Steagall is in the Conte government program of the Lega and Five Star Movement (M5S) coalition, and was also in the election program of President Trump. Although he doesn’t mention it, Glass-Steagall was also part of both the Democratic and Republican Party 2016 election platforms.

“Adopted in 1933, the Glass-Steagall Act aimed at solving one of the causes of the Wall Street financial collapse of 1929, which created the Great Depression leading the world to the Second World War.”

Puglisi continues, that its repeal in 1999 “was the cause for the financial collapse of 2008.” And now, despite the silence of the Italian government on the issue,

“there are activists who are not giving up. For example, those of Movisol, the Italian branch of the Schiller Institute and the LaRouchePAC, connected to the American economist and politician Lyndon Hermyle LaRouche, Jr., a politician who goes very much against the tide and has been dealing with these problems for many years.

“The Italian branch of this movement, led by Liliana Gorini, is very active all over Italy and its mission is very clear.”

He quotes Gorini at length on the economic causes of the threat of war, and the devastating effects of the EU austerity policy, “which aims only at saving big banks, and whose deadly effects can be clearly seen in Greece, with the recent wildfires.” Austerity cuts in the defense budget have cut back military manpower deployed to fighting wildfires.

Puglisi ends his article stating that thanks to the Movisol mobilization and activist Massimo Kolbe Massaron, a resolution for Glass-Steagall has been introduced in five Italian regions, and that 200 signatures of elected officials were collected to demand its reinstatement; these will be presented to the U.S. Congress in the coming months.