translation by Riccardo Di Salvo
This is finally a proposal for implementing legislation that should be to the banking system and the entire population,as a stabilizer and even increaser of the GDP of the country (as well as amply demonstrated by the PSB OPERATING already in the world), not only stabilizes and increase consequently all the PROFITS of the industrial sector and the banking system itself, but also raises the image of these economic and financial sectors. Monetary sovereignty would allow the State the first thing to save some 80-90 billion euro a year in interest on the so-called public debt.
Obviously if you try to implement a direct political action to prevent this enormous expense of interest on the debt, the banking system would prevent EASILY this attempt, as evidenced by the long list of FAILURES worldwide in the last few hundred years.
Therefore the only way to get the REALISTIC MONETARY'S SOVEREIGNTY is through participatory FINANCIAL STATE, and because now would highlight the huge expense item related to the interest on the debt, that is, these approximately 90 (Italy example) BILLION a year (even the STILL UNKNOWN majority of the population), and is why it would allow citizens to DECIDE finally INTENDED USE correct this HUGE amount of euro, while avoiding to give a chance to the usual politics of 'profession' like D'Alema, Berlusconi,Renzi,Letta,and even the mountains bureaucrat deciding to defraud the people giving the banks 99% of this huge amount which then offers an alibi to the same politicians for the increase of various fees continuous reaching a tax burden more and more suffocating.
Just to understand the magnitude of this spending serious 'interest' on the alleged debt remember that the total amount of government revenues relative to the infamous IMU that sparked the hatred and anger of the entire Italian people had just 4 billion Eu. The practical fexibility of this Solution is the fact that the participatory state budget open to all citizens is a form of REAL ITALIAN DIRECT ECONOMY already required by his own constitution, even in the most important part of it or the BASIC principles,in the first 12 articles,so basic as to be regarded as unchangeable are the fundamental THE ITALIAN'S REPUBLIC VALUES. In particular, even reiterated by eminent constitutional experts such as the emerit professor Umberto Allegretti or other distinguished emerit professor as Luciano Gallino, the rule emphasizes the obligation of implementation of all the instruments of direct democracy EFFECTIVE (or participatory) but especially the participatory STATE BUDGET exactly the CONSTITUTION ARTICLE 3 PARAGRAPH 2 of quoting verbatim: it is the duty of the Republic to remove those obstacles of an economic and social nature which constrain the freedom and equality of citizens, prevent the full development of the human person and THE EFFECTIVE PARTICIPATION OF ALL THE WORKING organizations,POLITICAL, ECONOMIC and SOCIAL country.
Then the participatory STATE BUDGET DECISION,already is a tool provided by the Italian's constitution is simply as a first step in the publication of the DETAILED FINANCIAL STATE budget (income and expenditure of the State) and as a second step in the PARTICIPATION of all citizens to TIME DECISION relating to the single EXPENSE ITEMS of State, establishing the final budget.
Participatory budgeting is a reality in the process of consolidation in many countries around the world and in particular the participatory STATE BUDGET OPERATING is already since 1999 in the State of Rio Grande Do Sul, which is part of the Brasil's states federation , since 1996 in the State of Kerala, which is part of the India's states federation,since 2009 in Poland. In addition to the UN, which includes all the 193 nations of the world, and the World Bank recommend participatory budgeting as "best practices" or as BEST PRACTICE POLICY OF THE WORLD.