		&REA 1160° Giorno
DLI (Dopo Liberazione Italia) ... è la home page di quegli ignoranti in economia della Standard&Poor

http://www2.standardandpoors.com/NASApp/cs/ContentServer?pagename=sp/Page/HomePg : è la home page di quegli ignoranti in economia della Standard&Poor (S&P), Mc Graw Hill. Perché ignoranti? Il perché lo capiamo subito dalla prima news: "Republic of Italy LT Ratings Lowered To 'AA-' on Weak Public Finances; Outlook Stable / Jul 07, 2004 08:35 AM EDT HTML"... il contenuto del link lo trovate nella prima P.S., sotto.
È una bocciatura dei conti pubblici italiani, è una bocciatura dell'Italia, è una bocciatura del Nuovo e Radioso Governo, è un declassamento dell'Italia da membro del G8 a penultima potenza economica di Forcolandia, posizionandoci solo sopra la Grecia (che, però, ha vinto l'Europeo di calcio). Avessimo vinto noi l'Europeo, probabilmente i nostri compatrioti non si accorgerebbero del fatto che, a causa di questo declassamento (nei tempi della Lira sarebbe stato un vero disastro), ci troveremo mutui e tassi in forte peggioramento, ed invece... ma la parte peggiore verrà dai mercati esteri e dagli investitori, che, per colpa di questi quattro villani, fuggiranno da noi come la peste!

Periodo durissimo...
Altre notizie?
1) scorporo della missione in Iraq dal decreto di proroga delle missioni militari italiane all'estero (vittoria postuma dei comunistoidi)
2) quei traditori dell'Udc depositano un documento (in commissione di Vigilanza Rai) per dimettere il CdA RAI il 30 settembre: già martedì, forse, voteranno assieme alla sinistra un documento di licenziamento dei consiglieri Rai (posti là dal Nuovo e Radioso Governo)
3) "Sappi una cosa: un secondo dopo il tuo annuncio di appoggio esterno, io salgo al Quirinale, mi dimetto e si va dritti alle elezioni. La colpa a quel punto ricadrà solo ed esclusivamente su di te", queste le dure parole del Libertador al giuda Follini.
4) eccetera

A' da passà a nuttata...

Stay! &rea

P.S.(" Republic of Italy LT Ratings Lowered To 'AA-' on Weak Public Finances; Outlook Stable
Analyst:
Moritz Kraemer, London (44) 20-7176-7114; Beatriz Merino, London (44) 20-7176-7108; Konrad Reuss, London (44) 20-7176-7102
Publication date: 07-Jul-04, 08:35:06 EST
Reprinted from RatingsDirect

LONDON (Standard & Poor's) July 7, 2004--Standard & Poor's Ratings
Services said today it lowered its long-term sovereign credit ratings on
the Republic of Italy to 'AA-' from 'AA', due to the deterioration of
public finances both in 2004 and beyond. At the same time, the 'A-1+'
short-term ratings on the Republic were affirmed. The outlook is stable.
     Standard & Poor's will be holding a Teleconference on this rating action
on July 8, 2004 (further details to follow).
     "Italy's central government cash deficits have risen significantly in
2004, and further widening can be expected in 2005 if ambitious planned
tax cuts of around €12.0 billion (0.9% of GDP) are implemented," said
Standard & Poor's credit analyst Moritz Kraemer.
     The difficulties of the governing coalition to address fiscal imbalances
bode poorly for the prospect of reversing Italy's weakening fiscal
position and achieving long-lasting structural budget improvements.
Standard & Poor's projects that Italy's budget deficit will remain around
3% of GDP in the medium-term. Moreover, if planned tax cuts are
implemented without adequate expenditure adjustment, the deficit could
surge up to 4.0% in 2005 and 2006, and the primary surplus could decline
to less than 1.5% of GDP. Standard & Poor's projects the general
government debt ratio to remain entrenched at close to 105.0% of GDP for
most of the remainder of the current decade, interrupting the past toward
the 'AA' median, which is estimated at 48.0% of GDP in 2004.
     The central government's cumulative deficit in the first half of 2004
exceeded that for the same period in 2003 by €12.7 billion (0.9% of GDP).
The government is currently preparing a budget amendment, aimed at cutting
spending by about €7.5 billion (0.6% of GDP), and raising extra receipts
through the sale of real estate and accelerated corporate privatizations.
This combination of measures, if fully implemented, would help to reduce
the debt burden marginally in 2004, to 105.6% of GDP (from 106.2% in 2003)
and limit the increase in the budget deficit to 3.1% of GDP in 2004 (from
2.4% of GDP in 2003).
     Beyond 2004, the pressure on public finances will mount markedly. The
government plans to cut taxes by 0.9% of GDP in 2005, but the coalition's
disagreement over expenditure cuts in 2004 already raises concerns about
the government's ability to secure sustainable financing to back the tax
reforms. Furthermore, the ability to raise one-off revenues, which have so
far largely substituted for lasting structural fiscal adjustment, will
become increasingly difficult as available options are exhausted.
Moreover, one-off measures--which may account for as much as 0.4% of GDP
in 2004--are to be phased out completely by 2006 according to official
government policy. The financing of these lost revenues remains undefined.
     Adding to fiscal strains, Italy will have to meet the challenge of one of
the most adverse demographic profiles of all rated sovereigns, which has
already contributed significantly to the recent fiscal degradation.
Pension spending rose by 0.2% of GDP to 14.4% of GDP in 2003, and is
likely to continue upward despite a pension reform proposal that would
start to rein in spending gradually from 2008.
     "Standard & Poor's expects that the government will take action to
prevent the public debt ratio from increasing," said Mr. Kraemer. "A
gradual pick-up in growth to 2.0% in 2006 and thereafter, from 1.2% in
2004, will also help to stabilize Italy's debt and deficit ratios, but the
need for long-lasting fiscal adjustment will remain," added Mr. Kraemer.
     A prolonged increase in the general government debt ratio would bring the
ratings on the Republic under renewed pressure. In addition, failure to
contain age-related spending will inevitably put pressure on Italy's
creditworthiness in future years.
     Conversely, the ratings could be raised if sustainable policies point
toward a return to the general government structural primary surpluses of
the late-1990s (which were close to 5.0% of GDP), in line with the
government's stated medium-term objective.

     Ratings information is available to subscribers of RatingsDirect,
Standard & Poor's Web-based credit analysis system, at
www.ratingsdirect.com. It can also be found on Standard & Poor's public
Web site at www.standardandpoors.com; under Credit Ratings in the left
navigation bar, select Find Ratings, then Credit Ratings Search.
Alternatively, call one of the following Standard & Poor's numbers: London
Ratings Desk (44) 20-7176-7400; London Press Office Hotline (44)
20-7176-3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225;
Stockholm (46) 8-440-5916; or Moscow (7) 095-783-4017. Members of the
media may also contact the European Press Office via e-mail on:
[email protected].

ANALYST E-MAIL ADDRESSES
[email protected]
[email protected]
[email protected]
[email protected]
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P.P.S.(imperversano gli estratti da http://www.espressonline.it/eol/free/jsp/detail.jsp?m1s=null&m2s=a&idCategory=4791&idContent=515677 :
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4. Solo 3 leggi ad personam Dice a Strasburgo il 2 luglio 2003 che si è fatto solo "in tre casi" leggi per lui, mentre invece sono almeno sette: rogatorie, falso in bilancio, Cirami, lodo Maccanico, tassa successioni e sulle donazioni, Gasparri, decreto salva Rete 4.
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