The article first published in on 09/18/2017.   Commenting on Jean-Claude Junker’s state of the European Union speech last week, the usually restrained German economic weekly, Wirtschafts Woche, said the following: “Today the chief of the European Commission gave a great speech… a speech full of great nonsense.” What prompted that staid publication to use such undiplomatic language, especially since the European Parliament gave the speech a standing ovation? Hopefully, it is the realization of more and more Europeans that the cheap EU triumphalism and prescriptions peddled by Juncker are, at best, inappropriate and, at worst, a recipe for disaster.   Of triumphalism there was plenty in the speech. “The wind is back in Europe’s sails” Junker assured the audience and told it that the EU is “in the fifth year


(“Let the consuls see to it that the state suffers no harm”) These are the first words from the phrase with which the Roman senate gave the consuls dictatorial power at critical moments for the country.   As of 4th December Italy will need its consuls once again, as the country is about to enter into a political crisis, at a time when there is desperate need to have a government in place.   Italy is a democratic parliamentary republic with a multi-party system under the Constitution, in force since January 1st, 1948.   The main legislative body in Italy is a bi-cameral parliament with some limited legislative powers also held by the Council of Ministers. Every law must obtain the approval of both chambers – the Chamber of Deputies, comprised of 630

This entry was posted in Europe and tagged , , , , , , by Pavel Bandilov.

About Pavel Bandilov

Pavel Bandilov is a financial analyst with more than 15 years of capital markets experience. He has worked for leading investment intermediaries in Bulgaria. Author of “Borsite” blog and market commentator in tv program, “The Day with Veselin Dremdjiev”. Currently, he is a part of the team of “Sofia International Securities”, an investment intermediary with focus on asset management and international markets.