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PRESS RELEASE


Vintage Tremonti: Move ECB Office to Nuremberg

Jan. 16, 2016 (EIRNS)—On May 23, 2014, a few days before the European elections and shortly after the European Parliament had approved the bail-in regulations, former Italian Treasury Minister Giulio Tremonti debated Lisbon Treaty godfather Giuliano Amato on European policies at an event organized by the Enciclopedia Treccani. Tremonti had already exposed the bail-in in various statements and in his new book, which EIR had covered. However, this particular event went unnoticed and a juicy statement was missed, which it is worth recalling today.

At the end of the debate, both Tremonti and Amato were asked for a concluding statement, and Tremonti said that he would like to repeat his idea that the financial crisis was similar to a videogame: a first monster comes up; you kill him, but then a second monster pops up; etc. The first monster was the subprime crisis; the second monster was the sovereign debt crisis; the third monster, now coming, is the bail-in legislation, Tremonti said.

“Stealing citizens’ deposits is tragic, but this is the perspective we are steering toward. At that point it will be very difficult. Maybe it will be necessary to move the legal base of the ECB to Nuremberg, in order to have it closer to the place of judgment. What about this as a headline?”

The audience, although pro-euro and thus hostile to Tremonti, could not refrain from applauding, and the moderators and Amato himself did not dare object.