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Gallino, Luciano
5 articles of this author have been cited in the European Press Review so far.
EU submits to financial system
At their summit meeting in Brussels on Thursday, the EU heads of state and government held out the prospect of a new bailout to the tune of 120 billion euros for crisis-stricken Greece. More money may help Greece, but one reason for its plight - the powerful financial system - remains untouched, writes the left-liberal daily La Repubblica: "The Greek crisis mercilessly exposes how the financial system effectively steers the EU through its operative arms - the EU Commission, the European Central Bank and the International Monetary Fund. The governments elected by the people have long since been at the service of the financial world. They should have reformed the financial system after the outbreak of the crisis in 2008. Although Brussels has been discussing financial reforms for two years now so far this has been nothing but a drop in the ocean. Because instead of reforming the financial system the governments actually helped it to become more powerful they are now entirely at the mercy of its demands."
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More from the press review on the subject » EU Policy, » Financial Markets, » Banks, » Europe
Fiat wants to shift production abroad
According to the boss of the Italian carmaker Fiat, Sergio Marchionne, the company would have a better overall balance sheet without its production plants in Italy, which are in deficit. This is a blatant attempt to make it look like shifting production abroad is an indispensable step, the left-liberal daily La Repubblica complains: "The problem is that Fiat is not able to keep up with the other European carmakers. ... To achieve full utilisation of capacities the production of two or three plants would have to be merged and the car parts suppliers sector completely overhauled so that the transport routes for all parts prior to assembly could be drastically shortened. Perhaps Fiat has already considered this solution. In this case it would be better for it to clearly defend this strategy instead of beating around the bush and complaining about the anarchy at Italian plants which according to those in charge is preventing Fiat from producing as cheaply in Italy as it does in Poland or Argentina."
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More from the press review on the subject » Corporations, » Labour market, » Industry, » Italy
Fiat blackmails with production transfer
The Italian carmaker Fiat has threatened to transfer part of its production to Serbia should the government, trade unions and workers refuse to accept changes to working conditions. The left-liberal daily La Repubblica says Fiat is resorting to blackmail tactics: "The Fiat strategy increases the danger of social conflict escalating and spreading. There can be no doubt, despite the prophecies of the ministers and trade unionists: thousands of companies with foreign subsidiaries will lose no time making the same demands for themselves if the strategy turns out to be successful. It's true that the crisis has weakened the unions and workers and that the spectre of unemployment is forcing them to accept almost any conditions. But it's by no means certain that … the majority of workers will unquestioningly accept the dictates of the 'global working class', including bans on strikes, demonstrations, raising objections and even calling in sick."
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More from the press review on the subject » Economic Policy, » Italy
Fiat workers stage demonstration
Several thousand employees of Italian carmaker Fiat staged a demonstration in Turin on Saturday aimed at preserving their jobs. The left-liberal daily La Repubblica comments: "Taken together the Fiat affair and the OECD statistics [which put Italy at the bottom of the table as regards wage levels] tell us that the low wages of millions of workers represent a national emergency that could have far-reaching and profound consequences if the Fiat situation does not improve. … Confronted with an emergency which requires epic interventions on the scale of a Roosevelt-style New Deal, it is still not clear where the government stands on this matter. … But the confederation of industries is also busy sawing off the branch it sits on, … for instance by considerably restricting research and development activities: In this area too, Italy has been lagging way behind for some time now."
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More from the press review on the subject » Corporations, » Economic Policy, » Italy
The car is dead
The Italian daily La Repubblica declares the automobile industry dead: "The age of the automobile as a means of private transport and as a product are coming to an end. It uses up too much of everything, both in production and consumption: too much energy, raw materials, water, space and time. Yet it has gained such a high status in our society that the transition to alternative forms of transport - and why not, to less mobility - will be a long and difficult process."
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More from the press review on the subject » Corporations, » Consumers, » Global
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