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IPFS News Link • Italy

Italian Truckers Declare Force Majeure Over Gas Pains, Halt Deliveries Starting Monday

• https://www.zerohedge.com, by Mike Shedlock

Not sure I call this a crash as yields are spiking in many paces but yes, it's messy.

Force Majeure Starting Monday Stops Trucking

Via Google Translate from Ansa.

Starting from next Monday, March 14, the trucking companies will suspend their services nationwide 'due to force majeure' "and that is the explosion of fuel costs.

"The suspension of services has become inevitable - underlines a letter sent by Trasportiunito to the Prime Minister, the Minister and Deputy Minister of Sustainable Infrastructures and Mobility and the President of the Guarantee Commission in Strikes - also to protect companies and prevent that the exasperated market conditions, determined by the record rise in fuel prices, translate into advantages for other subjects in the transport sector, or into charges for contractual obligations that the companies in the logistics chain are no longer able to guarantee ".

"The road transport block will have direct effects on the community, suspending the supplies of goods in the commercial sector and leading to a surge in retail price lists in shops and supermarkets - says the president Carlo Rienzi - An inevitable consequence, considering that the 85% of goods sold in Italy travel by road, and a further damage for consumers, exhausted like companies by expensive fuel".

"In this situation, a shameful immobility arrives from the Government, and it is not clear what awaits the executive to immediately cancel the VAT on petrol and diesel and reduce excise duties,

The trucking industry calls on the government to suspend the Value Added Tax (VAT) on gas and diesel and remove excise duties.


www.universityofreason.com/a/29887/KWADzukm