Saturday, 2 March 2013

M5S: a pro market electoral platform?

This is the actual economic program proposed by the M5S to the Italian voters:

  • Introduction of the class action
  • Prohibition of pyramidal ownership on the Stock Exchange
  • Prohibition of holding multiple directorship on the boards of listed companies
  • Introduction of structures for the real representation of small shareholders in listed companies
  • Abolition of the the Biagi Law (which is causing the duality issue on the job market)
  • Do not dismantle the food and manufacturing industries operating prevalently in the internal market
  • Prohibit cross equity between the banking system and the industrial system
  • Introduce the responsibility of financial institutions on the products they sell, on which they should be forced to share the losses
  • Do not allow directors to hold any other position in the same company if this is guilty of serious crimes
  • Do not allow the purchase of a listed company using debt (eg Telecom Italy)
  • The introduction of a cap on the salaries of the management of the companies listed on the Stock Exchange and companies where the State hold relevant equity
  • Abolition of stock options
  • Abolition of monopolies, particularly Telecom Italy, Highways, ENI, ENEL, Mediaset, State Railways
  • Aligning the rates of energy, connectivity, telephone, electricity, transport to other European countries
  • Reduction of public debt with strong cost-cutting measures of the state by cutting waste and with the introduction of new technologies to enable the citizen access to information and services without the need for intermediaries
  • Do not permit the appointment of persons convicted definitively ... as directors in companies where the State as a shareholder, or if these are quoted on the Stock Exchange
  • Encourage local production
  • Supporting non-profit company
  • Unemployment benefit guaranteed (Italy doesn't have non contributory job seeker allowances)
  • Disincentives to companies that generate social damage (e.g. distributors of bottled water).

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