Long nights and accounts in the red

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What would happen if your apartment building manager were to spend one million Euro on unplanned expenses without first discussing it with the apartment owners? And what would happen if he passed the one million Euro of debt onto the community by levying taxes? In such a situation you should be asking yourself two things: why can the Manager simply go ahead and spend money that he does not have? Why must the community foot the bill? This is, however, what is happening on a daily basis with our local mayors at our local municipalities. The more you go ahead and spend money that you don’t have, the more votes you will garner in the next election campaign. If James Bond was licensed to kill, then Topo Gigio Veltroni and his colleagues are licensed to spend.
The General Accounts Department of the State has discovered a black hole in the Rome Municipality’s financial accounts. Between accumulated debts of 8,151 million Euro as at the end of 2007, financial market loans, completion costs for the Underground train service, off-balance sheet debts and debts incurred by para-statal companies, the Capitoline municipality has amassed debts to the tune of 10,709 million. A veritable Roman K2. Technically speaking, the Rome Municipality is bankrupt because it is physically unable to pay its employees.
Marco Causi, Councillor in charge of Financial Accounts during Veltroni’s two terms in office stated that: “We didn’t hide bugger all. In 2001 we inherited a heavy debt load, equivalent to 6.1 billion in fact, aggravated by the investments made in order to finish construction on the new Undergorund train services. It’s all a bluff”. In other words then 60% of the blame lies with “Er Cicoria” and the remaining 40% with Topo Gigio. A ten billion Euro bluff, paid for by all of Italy’s taxpayers. Long nights and accounts in the red.
The inspectors reported that: “The current trend as regards revenues and outlays shows a total lack of financial sustainability, even in the short-term”. Without being too obvious about it, Tremonti is busy using a few hundred million Euro of Government money in an attempt to shore up the empty coffers of the debt Capital.
Local mayors must be controlled and must not be allowed to spend money they don’t have. If they do so, let them pay the bills, not the taxpayers. The next administrative elections are due to be held in 2009. Perhaps it would be a good thing to start preparing ourselves now. Rome is simply the tip of the iceberg. Starting today, I will be publishing any reports I receive regarding Municipalities that are throwing money around. Take a look at the Municipal Accounts, investigate, write in and send the documentation in to this blog.

Posted by Beppe Grillo at 12:46 PM in | Comments (2)
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Posted by: Virginia | July 5, 2008 11:07 AM


la rivoluzione è necessaria più che mai tutti i politici d'europa ci stanno prendendo per il culo.
a cominciare da prodi a finire a berlusconi e barroso e merkel e come cazzo si chiamano tutti. grazie beppe per il tuo lavoro. io sono un industriale tedesco ex emigrato italiano perchè qui il mondo era allora più onesto della maniglia romana. la gente come noi ha solo lavorato e non ha rubato niente a nessuno ma oggi? io rimetterei la guillioutine nella piazza e farei di questa europa un paese serio.

Posted by: fantomas | July 4, 2008 08:15 PM


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