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Bill: D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol
Details
Submitted by[?]: Nuova Socialdemocrazia
Status[?]: passed
Votes: This bill proposes to change the allocation of funds in the budget. It requires more than half of the legislature to vote yes. This bill will pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: May 4176
Description[?]:
| Albantello Creta, Minister of finance As announced, I'm here to present to the Parliament the Bailout to save the bank institution "CrediPol". The Government reached an agreement with the shareholders of the company which will provide for the state to grant to the bank 750 million LIS to consolidate internal finances together with the amounts agreed to be provided by the shareholders. For those shareholders recognized by the courts as involved and responsible for the financial collapse they will be called to cover most of the lack without any conciliatory agreement unlike what has been granted to non-involved shareholders, which will benefit from a special insurance fund to cover the risks and have the right to require the bank increased dividends. For what regard the state intervention, the 750 million of LIS will be allocate to the Minister of Finance in this way: 200 million will be take by the national surplus while 550 million will be deployed by the budget of the Minister of the Justice. This decision arrive because the recent decriminalization of various civil and social matters has lighten the workload for national and regional courts. When the institution will be healed and all the toxic assets will be neutralized, the bank will be put back on the market through a public bid. To the former shareholders not involved in the financial collapse will be granted a pre-emption right on the offer while for those involved will be forbidden to access the offer bid. Thank you. |
Proposals
Article 1
| Ministry | Current Budget | Old Budget | Propesed Budget |
| Head of Government | 250,000,000 LIS | 1,000,000 LIS | 1,000,000 LIS |
| Foreign Affairs | 5,000,000,000 LIS | 7,500,000,000 LIS | 7,500,000,000 LIS |
| Internal Affairs | 45,000,000,000 LIS | 4,000,000,000 LIS | 4,000,000,000 LIS |
| Finance | 1,300,000,000 LIS | 900,000,000 LIS | 1,650,000,000 LIS |
| Defence | 10,000,000,000 LIS | 31,500,000,000 LIS | 31,500,000,000 LIS |
| Justice | 7,500,000,000 LIS | 10,850,000,000 LIS | 10,300,000,000 LIS |
| Infrastructure and Transport | 1,850,000,000 LIS | 24,400,000,000 LIS | 24,400,000,000 LIS |
| Health and Social Services | 2,137,500,000 LIS | 35,000,000,000 LIS | 35,000,000,000 LIS |
| Education and Culture | 21,375,000,000 LIS | 27,000,000,000 LIS | 27,000,000,000 LIS |
| Science and Technology | 20,000,000,000 LIS | 19,000,000,000 LIS | 19,000,000,000 LIS |
| Food and Agriculture | 5,000,000,000 LIS | 3,500,000,000 LIS | 3,500,000,000 LIS |
| Environment and Tourism | 1,000,000,000 LIS | 4,500,000,000 LIS | 4,500,000,000 LIS |
| Trade and Industry | 1,150,000,000 LIS | 18,000,000,000 LIS | 18,000,000,000 LIS |
| Total | 121,562,500,000 LIS | 186,151,000,000 LIS | 186,351,000,000 LIS |
Debate
These messages have been posted to debate on this bill:
| Date | 15:18:03, March 03, 2017 CET | From | Partito Ambientalista Socialista Istalia | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Luisa Negri, deputata "We'll support this" |
| Date | 16:05:29, March 03, 2017 CET | From | Alleanza Radicale - NCD | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Sara Zanardi, Whip of PSLI: "we vote with convintion knowing that with this bailout we are not only saving CrediPol, but we are protecting all the istalian bank system against a chain reaction which could have put on the knees our economy and our citizens. Ah... it is always a pleasure to see the irresponsability of the PPI, ready to sink the istalian economy to goes against the other sides. A criminal and azzardous behaviour! I invite the other forces of the U.o.L. at least to abstain themself from the vote, for the good of Istalia and its economy. Thank you" |
| Date | 16:06:43, March 03, 2017 CET | From | Alleanza Radicale - NCD | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | "thank you also to DI... please Mr Giuliotti, could you explain to the Parliament how the U.o.L. would have faced the financial crack of CrediPol? We are really curious please." |
| Date | 16:24:25, March 03, 2017 CET | From | Partito Moderato Centrodestra | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Enzo Scifo leader of Patto.P.I Mr Speaker, We are AGAINST any bailout. We do not think that losses shouldn't be collective born by state and its population. Failure is Failure. |
| Date | 18:11:17, March 03, 2017 CET | From | Alleanza Radicale - NCD | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Sara Zanardi, whip of PSLI: "Mr Scifo, we're not talking about a manufacturing industry that produces ceramic toilet or a metalworking company which refines rare earth elements or titanium, here we are facing one of the largest and leading istalian banks. You have some idea of how work the banking sector and the financial markets in which it operates? Do you realizes that CrediPol has a hole of 1.5 billion LIS? You know what it means? It means that the bank is 1.5 billions in debt to other banks, to investment institutions, to other nations but also towards us. It means that it can no longer guarantee credit and financing to its customers, it means that he may never be able to return the money taken from the deposits of its customers, it means irt may lose a huge amount of money taken by investment funds for supplementary pensions and health insurance policies taken out by our citizens. And do you realizes with how many toxic shares and financial instruments the bank has flooded the financial markets? Stand idly by and do nothing would mean generate a chain reaction which could bring to failur of other banks and financial institute, failur of many little and medium business, the deseappear of investments founds and with them of milions of LIS on which many our citizens refer to complete their future retirement and to cover medical expenses (most part of these insurance were due to the insane privatizations of the sector of your administrations). So, what do you prefer? Continue to rest on your ideological positions or try to avoid an economic collapse which could generate unemployment rates in double figures, a meltdown of the gross domestic product, the failure of small, medium and large companies, a huge decline in the economy and so on. You prefer all of this? Fortunatly my coalition was at the Government to manage this crisis. If was the opposite... ah... we will be already to pick up the pieces of our nation!" (OOC: no one heard something like the Great Recession 2008 or something like the failur of Lehman Brothers? You can read something here: https://en.wikipedia.org/wiki/Great_Recession and https://en.wikipedia.org/wiki/Lehman_Brothers) |
| Date | 19:19:49, March 03, 2017 CET | From | Partito dei Democratici Istaliani | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Francesco Giuliotti, Whip of DI-U.o.L.: "We do we have to vote yes? We aren't on your coalition and we think that the state must not pay for someone's mistake. And if your coalition vote yes, you will pass the law. We cannot stop the passing of this bill, if you want do pass it. Anyway, if we vote yes, you will not reach the majority. So, I invite you to think more before accusing a party or a person." |
| Date | 19:52:59, March 03, 2017 CET | From | Alleanza Radicale - NCD | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | OOC: Now someone shall say to me HOW WE HAVE TO JUSTIFY THIS FAILUR! SOMEONE HAVE TO EXPLAIN ME NOW! |
| Date | 19:54:37, March 03, 2017 CET | From | Alleanza Radicale - NCD | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Sara Zanardi: "Very well mr Giuliotti, let's wait for the economic and social apocalipt. I want see how ze or you'll go to manage 30% of unemployement rates and the fall of banks and industries!" |
| Date | 10:20:09, March 04, 2017 CET | From | Partito Moderato Centrodestra | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Sara Zanardi, Why should we save banks who are managed badly? We can however accept a bailout on the condition that the people who have savings in the banks are bailed out and we let the bank itself go bancrupt. |
| Date | 23:00:09, March 04, 2017 CET | From | Alleanza Radicale - NCD | To | Debating the D.d.l. 01/74 Piano di salvataggio CrediPol / Bailout CrediPol |
| Message | Sara Zanardi, whip of PSLI: "Mr Scifo (?), we are saving the people ho have saving, funds, deposit, ecc. And sorry but, we do not make gift! The banks when will back in the market pratically will be a new bank with new assets and shareholders and it will give back that money with the interest in addition." |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 320 | ||||
| no | Total Seats: 206 | ||||
| abstain | Total Seats: 109 |
| Random fact: Bill descriptions must be in English, or at least include a full English translation. Bill titles may appear in a language that is appropriate to the nation and are not required to be translated into English. |
| Random quote: "A Bill of Rights that means what the majority wants it to mean is worthless." - Antonin Scalia |