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Russia Confiscates €800 Million From Deutsche Bank, Unicredit And Commerzbank
Russia Confiscates €800 Million From Deutsche Bank, Unicredit And Commerzbank
After two years of being on the receiving end of a weaponized global reserve currency, getting booted from SWIFT, countless (toothless) sanctions and watching some $350 billion of its assets be frozen and soon confiscated, Moscow has had enough, and over the weekend the FT reported that a St Petersburg court seized around €800 million worth of assets belonging to three western banks – Deutsche Bank, Commerzbank and UniCredit.
The seizure marks one of the largest moves against western lenders since Moscow’s invasion of Ukraine prompted most international lenders to withdraw or wind down their businesses in Russia. It comes after the ECB told Eurozone lenders with operations in the country to speed up their exit plans.
According to court documents, the court seized €463 million-worth of assets belonging to Italy’s UniCredit, equivalent to about 4.5% of its assets in the country, according to the latest financial statement from the bank’s main Russian subsidiary.
Frozen assets include shares in subsidiaries of UniCredit in Russia as well as stocks and funds it owned, according to the court decision that was dated May 16 and was published in the Russian registrar on Friday.
According to another decision on the same date, the court seized €238.6mn-worth of Deutsche Bank’s assets, including property and holdings in its accounts in Russia. The court also ruled that the bank cannot sell its business in Russia; it would already require the approval of Vladimir Putin to do so. The court agreed with Rukhimallians that the measures were necessary because the bank was “taking measures aimed at alienating its property in Russia”.
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Who is Giorgia Meloni, the Leader of the Italian Right?
Who is Giorgia Meloni, the Leader of the Italian Right?
Russian Gas Stops Flowing To Italy After ‘Problem’ In Austria
Russian Gas Stops Flowing To Italy After ‘Problem’ In Austria
Russian energy giant Gazprom PJSC suspended natural gas deliveries to Eni SpA, Italy’s largest oil company, on Saturday, reported Bloomberg.
“Gazprom informed that it is not able to confirm the gas volumes requested for today, stating that it’s not possible to supply gas through Austria. Therefore, today’s Russian gas supplies to Eni through the Tarvisio entry point will be at zero. Eni will provide updates in case supplies will be restored,” Eni wrote in a statement on its website.
An Eni spokesperson told Bloomberg that Austria is still receiving NatGas from Gazprom:
“We are working to check with Gazprom whether it is possible to reactivate the flows to Italy.”
Gazprom said NatGas flows from Austria to Italy were suspended because the Austrian operator refused to confirm “transport nominations” after recent regulatory changes in the landlocked country in the southern part of Central Europe.
It’s important to note most of the Russian NatGas delivered to Italy flows through Ukraine via the Trans Austria Gas Pipeline to Tarvisio in northern Italy on the border with Austria. Before Russia invaded Ukraine, Italy imported 95% of its NatGas, of which 45% came from Russia.
Those figures are drastically different today as Italy rejiggers its energy supply chain away from Russia and finds alternative supplies of NatGas from North Africa. Before this weekend, Russian NatGas accounted for only 10% of Italy’s imports. The new suppliers will help Italy boost storage levels ahead of winter.
“Outgoing Prime Minister Mario Draghi has been scouring the globe to secure gas supplies to protect Italy from potential supply interruptions from Russia, which has been putting pressure on the European Union over several rounds of sanctions in response to the invasion. Italy has been one of the most successful countries to source alternative supplies,” Bloomberg noted.
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Huge Dock Worker Protests In Italy, Fears Of Disruption, As Covid ‘Green Pass’ Takes Effect
Huge Dock Worker Protests In Italy, Fears Of Disruption, As Covid ‘Green Pass’ Takes Effect
Following Israel across the Mediterranean being the first country in the world to implement an internal Covid passport allowing only vaccinated citizens to engage in all public activity, Italy on Friday implemented its own ‘Green Pass’ in the strictest and first such move for Europe.
The fully mandatory for every Italian citizen health pass “allows” entry into work spaces or activities like going to restaurants and bars, based on one of the following three conditions that must be met:
- proof of at least one dose of Covid-19 vaccine
- or proof of recent recovery from an infection
- or a negative test within the past 48 hours
It’s already being recognized in multiple media reports as among “the world’s strictest anti-COVID measures” for workers. First approved by Italian Prime Minister Mario Draghi’s cabinet a month ago, it has now become mandatory on Oct.15.
Protests have been quick to pop up across various parts of the country, particularly as workers who don’t comply can be fined 1,500 euros ($1,760); and alternately workers can be forced to take unpaid leave for refusing the jab. CNN notes that it triggered “protests at key ports and fears of disruption” on Friday, detailing further:
The largest demonstrations were at the major northeastern port of Trieste, where labor groups had threatened to block operations and around 6,000 protesters, some chanting and carrying flares, gathered outside the gates.
Around 40% of Trieste’s port workers are not vaccinated, said Stefano Puzzer, a local trade union official, a far higher proportion than in the general Italian population.
Workers at the large port of Trieste have effectively blocked access to the key transport hub…
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Electricity bills in Italy rise by almost 30 percent from Friday
Electricity bills in Italy rise by almost 30 percent from Friday
The new national tariffs come in from Friday, at the start of the fourth quarter of 2021 (October-December).
The increase comes amid surging energy costs across Europe, and beyond.
The price rise passed on to Italian consumers could’ve reached 45 percent, Arera said, if the government had not stepped in to cap the new rise in rates.
The Italian government last week announced measures costing three billion euros aimed at limiting a steeper rise in energy prices for consumers.
As well as keeping the cost to most families below 30 percent and 15 percent, the government measures will keep additional costs at zero for those least well-off, including households with an income under 8,265 euros, families with at least 4 dependent children with an income of less than 20,000 euros, those who receive a state pension or unemployment benefit, and people who are seriously ill, Sky TG24 reports.
The measures also cut the ‘general charge’ from gas bills for all throughout the last quarter of 2021, and on electricity for families and some small businesses.
Last quarter, the retail cost of electricity rose by 9.9% and gas by 15.3% from July 1st.
The government also stepped in that time to cap costs, with 1.2 billion euros in state aid.
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Permaculture design for Stephan Schrotter at Cairo Montenotte, Italy
This article is in three parts. The entire series will take us through a Permaculture Design Project at a property in Italy. Firstly we will look at how the project was observed, then the analysis that was undertaken before starting the design.
Holistic Goal
What is it?
A holistic goal is a three-part goal describing the quality of life desired, the forms of production to get there, and the future resource base that the forms of production depend on. A strategy is a plan of action designed to achieve a goal. A task is one step in the plan of action to accomplish a goal.
A Holistic Goal (now referred to as a “Holistic Context” by the Savory Institute) is necessary for anyone who wants to be a Holistic Manager. It can help you with your personal life, your business, and your family life. Having a Holistic Goal has eliminated a lot of decision-making stress in my life.
Holistic Management involves using a simple decision-making framework that ensures all significant management decisions are simultaneously economically, socially and environmentally sound both short and long term. No longer are decisions made toward objectives or goals alone, but always toward a new concept called the holistic goal for any management situation. The holistic goal provides the context for all objectives, goals or actions toward any vision or mission. This helps greatly in avoiding unintended consequences to our actions that are so universal that economists long ago used the term “Law of unintended consequences.”
-Allan Savory
What you have to manage?
A Permaculture project: Rebuild the house with two or three rooms to rent, food production for the family and guests, trees…
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Managing the Pandemic: A Costly Mistake we are Making
Managing the Pandemic: A Costly Mistake we are Making
This comment by Olga Milanese is related to the situation in Italy, where it is common to talk about the pandemic in terms of the “Maximum Precaution Principle.” This term is not much used elsewhere, but similar concepts are expressed in different forms in other countries, for example stating that no level other than zero is acceptable in regards to the pandemic (see, e.g. this exchange). Unfortunately, the consequence is that other problems are neglected. Here, Olga Milanese writes some interesting considerations from her viewpoint of a lawyer about the “principle of precaution.” These considerations apply not only to the pandemic, but to many facets of the situation as it is nowadays. Facing multiple existential threats, from climate change to resource depletion, the human tendency, now as in past history, is to select one as “the” threat, and convey all the efforts on it, without realizing that some of the perceived “solutions” may do more harm than good.
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Anti-Lockdown Protests All Across EuropeIncreasingly draconian lockdown measures, economic destitution, and sweeping police powers are evaporating public trust and eroding public patience.
As the alleged “second wave” of the Coronavirus “pandemic” is reported to be sweeping across Europe in recent weeks, many governments have enthusiastically embraced their totalitarian side and granted themselves sweeping new “emergency powers” alongside new lockdown measures.
The public has been markedly less co-operative this time around. Rebelling against the seemingly arbitrary limitations which are not supported by either science or common sense. Protests have taken place all across the continent.
GERMANY
Thousands of people gathered in Berlin over the last few days, protesting the Merkel government passing a new lockdown law. Police turned water cannons on the crowds, and nearly 200 people were arrested.
According to reliable sources, elements of Antifa rushed to the scene of the Anti-New Normal Totalitarianism protest in Berlin today, hoping to hold the “Corona Deniers” down, so that the cops could hose them real good, but they were just a little too late. pic.twitter.com/RdQ67qYjnN
— Consent Factory (@consent_factory) November 18, 2020
The mainstream reported “hundreds” of protesters, but as pictures plainly show it was more like tens of thousands:
“Thanks for the picture Majd Abboud, not hundreds, not thousand, but ten’s of thousands protested in Berlin today and it’s only the beginning of something big…” Sonja Van Ende#Covid_19 pic.twitter.com/hLxNaTEqYv
— vanessa beeley (@VanessaBeeley) November 19, 2020
Berlin, Berlin, das wird Folgen haben… pic.twitter.com/SbDca1k5FA
— Bajazz3.0 (@BatschkappMZ) November 18, 2020
SPAIN
After the Prime Minister of Spain Pedro Sanchez declared a sixth-month state of emergency in late October, there were days of protests across the country.
Barcelona, already a hot-bed of anti-government feeling due to the brutal repression of the Catalan Independence referendum, saw violent confrontations between riot police and protestors
The Police Join Protestors in Naples, Italy
This is what we need to desperately save our future. The police have to wake up and see that they are destroying, not just their own future, but that of their families for generations to come. I have always pointed out — tyranny ends when the police defend the people against the corruption of government. That is how you win bloodless revolutions.
NAPLES Riots after Government Says it Will Impose 40 day Lockdown
Protest breakout in Naples after the government claimed that 2,000 have COVID-19 so they may lock down the region for 40 days and have imposed a curfew. These lockdowns have not stopped the virus but instead, prolong it. We see civil unrest rising around the world and this may lead to even overthrowing governments in many places.