Italy, A Parallel Currency and Immigration – Merkel’s Worst Nightmare

Read more on this subject: Italy
News Story Source: By Thomas Luongo TomLuongo.me
Here comes the flood.  My worst fears of The League's leader Matteo Salvini's ego getting in the way of seizing the political moment by the horns were overblown. It feels good to be wrong every once in a while.

It looks like coalition talks between The League and Five Star Movement (MS5) have been productive.  A new post from Mike "Mish" Shedlock reveals the likely structure of a new parliamentary deal which has neither Salvini nor M5S's Luigi Di Maio taking the role of Prime Minister.

From Mish the Platform contains:

The end of the pension reforms under Mario Monti; Five Star is softer on this point than Lega, but together the two parties can be expected to agree fundamental changes.

A flat tax on companies and people – in other words a massive tax reduction.

A study on the so-called minibot. This is a parallel currency based on future tax receipts, similar to the plans proposed by Yanis Varoufakis in Greece. The minibot w
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