December 22, 2007 (LPAC)-- On Dec. 20, a new book discussing the already collapsed global financial system and its opposing system, by Italian economist Nino Galloni, was presented in Rome, to a packed room of 100-plus individuals. Seven speakers introduced the book: EIR representative Claudio Celani, journalist Guglielmo Nardocci, economist Marco Della Luna, "mittelstand" representative Elisabetta Malfitano, politician Antonio Landolfi, attorney Francesco Petrino and economist Pierluigi Paoletti. Dr. Galloni himself then concluded the meeting.

Being the first speaker Claudio Celani set the tone, remarking that Galloni's book, entitled "The Big Mortgage" (Il Grande Mutuo), has the merit of describing in detail the genesis, the structure and the collapse of the financial system, and discussing possible solutions. Among solutions, Galloni indicates the "New Bretton Woods" reform by Lyndon LaRouche as "among the best solutions currently being offered." Just the headline of the book should be changed, Celani said, as it says: "The coming financial collapse". The collapse has occurred, and we are now witnessing its effects in concentric circles on the financial and real economy.

Moderator Nardocci, a journalist for the widely-circulated weekly "Famiglia Cristiana", commented that Celani's crude presentation had induced "a hell of a lot of fear," but that he agrees with the proposed solutions – banking reorganization and great projects – with the provision that an adequate Welfare is also financed.

Elisabetta Malfitano, represented Catia Polidori, the chairman of the Giovani Imprenditori Confapi, a national organization of young small and medium entrepreneurs. Mrs. Malfitano illustrated the hardship of government policies on producers, when such policies are dictated by the interests of financial predators. In Italy, fiscal policy is especially oppressive on manufacturers. Mrs. Malfitano called for reducing the tax burden with means other than cutting the state budget.

Mr. Petrini represented the phenomenon of homeowners defaults on mortgages, which only in Rome increased 30% this year. Marco Della Luna called for a nationalization of the Bank of Italy, which is under private property, of which two large banks, Unicredit and Banca Intesa, own the majority of its shares. He also pushed the idea of direct currency emission in order to avoid debt creation for the state. Mr. Landolfi, a former national leader of the Italian Socialist Party and an economist himself, spoke on the subject of "partnership economy" as opposed to the "shareholder economy". Mr. Paoletti presented the experience of "complementary currencies" to support local economies.

Given the long array of speakers, only one question from the audience was allowed, which referred to Celani's presentation and asked for more explanations on 1. Roosevelt-style programs; 2. Which forces are going to implement such programs.

Dr. Galloni answered the question in his conclusive remarks, calling on governments to regain sovereignty on economic and financial affairs. Especially, the notion of productive credit must be re-established, Galloni said. "It is not possible that in the third millennia, development is prevented by medieval notions of how a state budget is to be run", Galloni exclaimed forcefully.