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"New Bretton Woods" In Italian Parliament
The New Bretton Woods Campaign

Italian Chamber of Deputies approves motion for a reform of the international monetary system

April 6, Rome (EIRNS)—This is a preliminary report waiting for the stenographic text of the discussion, which will be published by the Italian Parliament on Thursday. A government attempt to emasculate the motion introduced by Rep. Lettieri and others, was successfully rejected and a slightly modified text was approved on Wednesday, April 6. The government representative, Deputy Minister Ventucci, intervened in the debate by proposing to take five lines out of the text, totally eliminating the part which calls on the government to take action to convoke an international conference to reform the international monetary and financial system.

Ventucci's attempt was rejected by a broad array of legislators, including the opposition but also the government coalition. In particular, representative Gianni, from the opposition party Rifondazione Comunista (PRC), and D'Agro, from the government party UDC, led the pro-LaRouche forces to defeat the government attempt. Remarkably, both Rep. Lettieri and others who intervened in the discussion, referred to the Pope as the moral leadership on issues of economic justice.

After the government proposal to change the motion by taking out five lines was presented, Rep. Gianni intervened, rejecting the proposed changes with the argument that the substance of the motion would completely change. Every economic expert knows that globalization and the current problems started with the abolition of the Bretton Woods systems, and therefore the issue here is the reform of the Bretton Woods System. Gianni insisted that as a signer and active supporter of the motion, he is well aware of its intent, and referred to "American leftist Democratic circles" whom he knows to be the instigators of the motion. To my friend Lettieri I say: without those five lines, I will not vote for it. Next, D'Agro, who was a participant to a conference in the Vicenza chamber of commerce years ago, where LaRouche was the main speaker, intervened stressing the importance of the issue raised by the motion. He referred to George Soros's well-known actions in destabilizing entire nations through monetary speculation, as an example of the threats embedded in the current system. He then urged the government to follow the indications of the original text, without changing it. He added that Italy should win over EU partners to this. Rep. Delmastro Delle Vedove, who had already intervened in the first phase, supported Gianni, although they belong to two opposite sides of the political spectrum. Delmastro, in fact, is a member of Alleanza Nazionale, a rightwing partner in the government coalition. Another member of AN, Rep. Zacchera, was next to speak. Zacchera is a foreign policy speaker for AN, more authoritative than Delmastro. Without directly attacking the government, he fully supported Lettieri's motion, by stressing the "catastrophic" threats originating from the derivative bubbles. He then evoked Pope John Paul II, reminding that the Pope said often that government leaders must address those issues.

Furthermore, he said forcefully, Italy has ambitions to be a permanent member of the UN Security Council; if that is true, than we must take leadership in indicating solutions on exactly these issues. He said he would vote in favour of the motion. At that point, government representative Ventucci took the floor and said that the government has nothing to object to convoking an international conference, withdrawing his proposal. He only asked that the words "similar to Bretton Woods" should be left out, without explaining why. Rep. Gianni asked the government whether he understood correctly that the whole five lines were now back in the text. Ventucci said that yes, he had now changed his mind. Gianni then said that this is now different, that "nomina substantia rerum sunt" and that important is that the goal of an international conference with heads of state and government is there. He will now vote for the motion. Rep. Pistone, from the opposition party DS, followed Gianni and said that she too, as a supporter of the original text, was ready to reject the changes but now was happy that the government had changed its mind. The motion was put to vote and approved. Of course, it would have been better if also the words "similar to Bretton Woods" were included, but we must realize that the substance is preserved and that the government was defeated. This is a major victory, which has been surely helped by Berlusconi's defeat in the regional elections, and also by the peculiar atmosphere currently reigning in Rome, with the enormous popular reaction to the Pope's death.


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