Italy 277 B Euro Debt to France

277 Billion Reasons Why France Is So Worried About Italy’s Showdown With Brussels

French, German and Spanish banks are now far too exposed to Italian debt for their respective governments to even entertain the idea of pushing Italy to the edge. “Brussels would love to see our defeat,” said Claudio Borghi, the Lega economics chief and budget chairman in the Italian parliament. “They think that we’ll surrender if they cause a crisis for our banks.
Lorenzo Bini-Smaghi, a former member of the ECB board, disagrees. He believes that events are following a similar script to the onset of the Eurozone debt crisis in 2011. “The economy risks tipping into recession in the fourth quarter. The Italian government has not understood this. The crash is going to be violent.”

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France-UAE Arms Deal

New WikiLeaks Release Exposes Corruption In UAE Arms Deal Fueling War On Yemen

Though the corruption detailed in the newly leaked document took place decades ago, it highlights how lucrative arms deals are often enough incentive for governments to bend the rules in order to keep weapons and cash flowing, no matter the consequences. France today – despite the gravity of the Yemen conflict and the clear involvement of the UAE and Saudi Arabia in committing war crimes – continues to supply the UAE/Saudi coalition with weapons, even though doing so violates its own laws. Indeed, a recent report published by French law firm Ancile Avocat asserted that France’s continued sale of weapons to the two Gulf countries responsible for the carnage and chaos in Yemen was a violation of France’s status as a signatory of the International Arms Trade Treaty, ratified in 2014.
Since the conflict in Yemen began, France’s government has argued that the UAE and the Saudis are using those weapons for “defensive purposes,” despite clear evidence to the contrary, suggesting that the French government is willing to turn a blind eye to the atrocities in Yemen in order to keep the weapons — and cash – flowing.

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