Wrapping up June which is still Pride month. Found this classic tune of
the genre.
Should point out that - in French - KIKI is baby talk for cookie ( un bicuit).
Whatever...
How muxh in profits did Google and Facebook declare last year?
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Why is Venice called La Serenissima; what does this mean?
๐ฎ๐น "La Serenissima" means "The Most Serene"—and it was the official title of the Republic of Venice for centuries. The full name was La Serenissima Repubblica di Venezia, or The Most Serene Republic of Venice. Here's why that nickname stuck:
๐️ A Title of Prestige and Power
“Serenissima” is the superlative form of sereno, which means serene or calm in Italian.
It was a diplomatic and honorific title, symbolizing Venice’s claimed political stability, wise governance, and independence—especially during the chaos of medieval Europe.
⚖️ A Republic Like No Other
Venice was a sovereign republic for over a thousand years (697–1797), governed by an elected Doge and a powerful aristocratic council.
Unlike many other states ruled by monarchs or embroiled in frequent wars, Venice projected an image of calm order—even though it was deeply involved in politics, trade, and sometimes ruthless ambition.
๐ A Calm Oasis on the Water
Built on a lagoon, Venice embodied a kind of mystical serenity—floating between sea and sky, beautiful and seemingly untouched by time.
The title also helped Venice stand apart from rival maritime powers like Genoa, Pisa, and later, the Ottoman Empire.
Venetians leaned into this branding: even coins, official documents, and ships bore symbols of “La Serenissima.” Pretty clever for a city that ran a trade empire stretching from Crete to Cyprus to Constantinople, all while managing to look effortlessly graceful.
Would you like a glimpse into how Venice kept that serenity while orchestrating power plays across Europe and the Mediterranean? Their secret diplomacy is the stuff of legend.
Tell me!!
๐ต️♂️ Venice’s famous serenity masked a world-class spy network. Here's how La Serenissima maintained control with surprising subtlety:
๐️ The Council of Ten: Venice’s Secret Keepers
This ultra-powerful body, created in 1310, handled state security, espionage, and internal surveillance.
It operated mostly in complete secrecy, answering only to the Doge but often wielding far more influence than him.
๐ The Bocche di Leone (“Mouths of the Lion”)
These were public mailboxes with lion heads where citizens could anonymously denounce others for crimes or suspicious behavior—anything from tax evasion to treason.
The Council of Ten evaluated these tips and could dispatch secret agents without trial or fanfare.
๐ถ️ Professional Spies and Double Agents
Venetian merchants abroad often served as informal intelligence officers, sending back reports from Ottoman ports or Habsburg courts.
The Republic also employed multilingual spies, master forgers, and even defectors from rival states to stay one step ahead.
๐ Control Through Silence and Sophistication
Venice banned many public discussions of politics. Gossip in a piazza could land you in prison—or worse.
Dissent was rare because the penalty for betrayal could be exile, torture, or death—sometimes carried out behind the marble walls of the Doge’s Palace without a trace.
๐ถ Through shrewd diplomacy, trade leverage, and ruthlessly efficient intelligence, Venice kept its empire remarkably stable—serene in appearance, but fiercely guarded in practice.
Would you like a peek inside the secret torture chambers or prisons beneath the Doge’s Palace? The Bridge of Sighs wasn’t just poetic—it led straight to the cells.
What is the famous Church and Plaza of Venice?
The most iconic duo in Venice is undoubtedly St. Mark’s Basilica and Piazza San Marco—they’re the heart and soul of the city.
⛪ St. Mark’s Basilica (Basilica di San Marco)
Known as the “Church of Gold”, it’s Venice’s most famous church, dazzling with golden mosaics, Byzantine domes, and treasures brought back from the East.
Originally built in the 9th century to house the relics of St. Mark the Evangelist, which were smuggled from Alexandria.
Inside, you’ll find the Pala d’Oro, a breathtaking golden altarpiece encrusted with gems, and over 8,000 square meters of mosaics.
The basilica’s architecture is a blend of Byzantine, Gothic, and Islamic influences, reflecting Venice’s role as a crossroads of cultures.
๐️ Piazza San Marco (St. Mark’s Square)
Napoleon once called it the “drawing room of Europe”—and it’s easy to see why.
Surrounded by historic buildings like the Doge’s Palace, the Campanile (bell tower), and the Procuratie, it’s the city’s grandest open space.
It’s where Venetians gathered for festivals, announcements, and even executions—though today it’s more about espresso and selfies.
During high tide (acqua alta), the square can flood, creating surreal reflections of the basilica and sky.
Would you like a virtual stroll through the square or a peek inside the basilica’s glittering interior? I can guide you through the highlights like a local.
These are on the island part of the city...
Exactly! ๐ St. Mark’s Basilica and Piazza San Marco are both located on the main island cluster of Venice—right in the heart of the historic city, nestled between winding canals and elegant bridges.
Venice itself is built on a group of 118 small islands linked by over 400 bridges, and the city’s “main island” refers to the densely packed historic center. That’s where you’ll find:
๐️ St. Mark’s Square: the city’s ceremonial core
⛪ St. Mark’s Basilica and ๐ฐ the Doge’s Palace: side by side, forming an iconic duo
๐️ The Campanile (bell tower): a 99-meter-high perch with panoramic views of the lagoon
It’s all surrounded by the Grand Canal, shaped like a backward “S,” which divides the historic center into districts called sestieri.
Want to explore some of the quieter islands next? Murano (glass!), Burano (lace and rainbow houses!), or Torcello (Venice’s hauntingly ancient sibling) could be lovely detours.
Is St Marc's currently open to the public?
Yes! ⛪ St. Mark’s Basilica is currently open to the public, with the following visiting hours:
Monday to Saturday: 9:30 AM – 5:15 PM (last admission at 4:45 PM)
Sundays and Holy Days: 2:00 PM – 5:15 PM
You can also attend Mass or prayer services earlier in the day—entry for worship is free via the Porta dei Fiori on the north side.
๐️ Tickets are required for general sightseeing, and there are optional add-ons like the Pala d’Oro (a golden altarpiece) and the Museum – Loggia dei Cavalli. The Bell Tower is open daily until 9:15 PM, weather permitting.
Let me know if you’d like help booking tickets or planning the best time to visit to avoid the crowds. Venice rewards the early risers!
What's this about the plaza can flood. Surely one doe not want water in the Church!!
You're absolutely right—water in a 1,000-year-old basilica is every conservator’s nightmare. But Venice, being built on a lagoon, has always danced a delicate waltz with the tides. The phenomenon is called acqua alta (high water), and Piazza San Marco is the lowest point in the city, making it the first to flood when tides rise.
๐ Why It Floods
The square begins to flood when tides reach just 60 cm above sea level—which happens around 250 times a year.
At 80–90 cm, large parts of the piazza are submerged.
At 100 cm, nearly the entire square—including the narthex of St. Mark’s Basilica—can be underwater.
๐ก️ How They’re Protecting It
Glass barriers were installed around the basilica in 2023 to block water from entering the church during moderate floods.
These barriers are temporary until the MOSE system—a massive underwater gate project—is fully operational (expected by the end of 2025). MOSE is designed to block high tides from entering the Venetian Lagoon altogether.
Inside the basilica, drainage systems and restoration efforts are ongoing to combat saltwater damage, which can age the structure “20 years in a day” during severe floods.
So yes, Venetians definitely don’t want water in the church—but they’ve become masters of managing it. Want to hear how the MOSE system works? It’s like something out of a sci-fi novel.
So the flooding is a relatively recent phenomenon...
Not quite—acqua alta has been part of Venetian life for centuries—but the frequency and severity of flooding have dramatically increased in recent decades.
๐ A Long History, But a Modern Crisis
Venice has always experienced seasonal high tides, especially in autumn and winter, due to its lagoon setting and the Adriatic Sea’s tidal patterns.
However, the 1966 flood was a turning point: water levels reached a record 194 cm, submerging 80% of the city and causing catastrophic damage to art, homes, and infrastructure.
Since then, climate change, rising sea levels, and land subsidence have made flooding more frequent and intense. In fact, Venice now floods dozens of times a year, with some years seeing over 60 events.
๐ What’s Changed?
Sea level rise is accelerating, and Venice is also sinking—about 1–2 mm per year due to natural and human-induced factors.
Storm surges and extreme weather events are more common, pushing water into the lagoon faster than the city can drain it.
๐ก️ The Response
The MOSE barrier system, a series of mobile gates at the lagoon’s inlets, is being deployed more frequently to protect the city. It’s a massive engineering feat, but experts warn it may not be enough by the end of the century under high-emission scenarios.
So while flooding isn’t new, the scale and urgency of the threat are very much modern. Venice is still breathtaking—but it’s also on the front lines of climate change. Want to see how the MOSE system works or what future projections look like? It’s both fascinating and sobering.
Is the Lagoon now completely given over to Tourism, or does it still function as a port?
Not at all—while tourism is undeniably the dominant force in Venice today, the Venetian Lagoon still functions as a working port and plays a vital role in regional commerce and transportation.
⚓ A Dual Identity: Tourism & Trade
The Port of Venice remains one of the largest and busiest ports in the Mediterranean, handling both passenger cruises and commercial freight.
It’s part of the Veneto Port System, which includes nearby Chioggia, and serves as a gateway for goods moving between Southern Europe and Central Europe.
Over 1,200 companies operate within the port system, supporting industries from steel to energy to logistics.
๐ข What Still Moves Through the Lagoon?
Containers, bulk cargo, steel, chemicals, and even oversized industrial equipment are regularly shipped through Porto Marghera, the industrial zone on the mainland side of the lagoon.
The port also maintains ferry and cruise connections to destinations like Greece, Croatia, and Egypt.
๐ฑ A Glimpse into the Future
Venice is investing in a green transition, turning parts of Porto Marghera into a clean energy hub with hydrogen and alternative fuels.
The lagoon is also home to fish farming and limited traditional fishing, though these are increasingly overshadowed by tourism.
So while gondolas and Aperol spritzes may dominate the postcards, Venice’s lagoon is still very much a living, working waterway—a place where cargo ships and cruise liners share space with vaporettos and fishing boats.
Curious about how Venice balances this industrial activity with preserving its fragile ecosystem? It’s a tightrope walk worth exploring.
Meta AI:
Explain to me the OECD's proposal for a 15% minimal tax on Corporations. Who calculates and receives this tax??
The OECD's proposal for a 15% minimum tax on corporations, also known as Pillar Two, aims to ensure large multinational enterprises (MNEs) pay a minimum effective tax rate of 15% on their profits. This agreement, signed by over 140 countries, targets MNEs with earnings above €750 million ($812 million). Here's how it works ¹:
Calculating the Tax: The tax is calculated based on the MNE's effective tax rate (ETR) in each jurisdiction where they operate. If the ETR falls below 15%, other countries can impose a top-up tax to bring the total tax rate up to the minimum level.
Receiving the Tax: Each country is eligible for a share of revenue generated by the tax. However, the tax is not centrally collected; instead, it's collected on an individual nation basis. This means that countries where MNEs are headquartered or have significant operations will receive the top-up tax revenue.
The goal of the global minimum tax is to ³:
Reduce Tax Competition: Discourage countries from lowering tax rates to attract MNEs and prevent a "race to the bottom."
Prevent Profit Shifting: Stop MNEs from shifting profits to low-tax countries or tax havens, ensuring that profits are taxed where economic activities generating the profits are performed.
Some critics argue that the 15% rate is too low and may not effectively address tax avoidance, while others point out that high-income countries may benefit disproportionately from the new tax revenue .
Why has the US said this was unfair to them?
The US has expressed concerns that the OECD's 15% global minimum corporate tax agreement could undermine US sovereignty and competitiveness. Here are the key reasons ¹ ²:
Impact on US Multinationals: The agreement would require US companies to pay a minimum tax rate of 15% on their foreign earnings, potentially reducing their profitability. This could lead to US companies being at a disadvantage compared to companies from countries that don't adopt the agreement.
Loss of Tax Revenue: The US would have to step in to collect the top-up tax if a US corporation routes its profits through a tax haven and pays less than 15%. This could result in lower tax revenues for the US, as the country would only be able to apply its 35% tax rate to the remaining amount after the 15% tax has been paid.
Restricting US Tax Policy: The agreement could limit the US's ability to reform its own tax system, potentially forcing it to adopt the OECD's framework. This could be seen as an infringement on US sovereignty.
Benefit to European Countries: European countries like France are likely to benefit from the agreement, as it helps curb tax competition between nations. The US, on the other hand, might see its tax revenues reduced.
Existing US Tax Regime: The US already has a relatively high corporate tax rate of 35%, but numerous exemptions and deductions bring the effective tax burden down. The OECD agreement could potentially disrupt this system.
These concerns have led the US to withdraw from the OECD agreement under President Trump's administration, citing the need to protect American businesses and maintain US sovereignty ³.
CASE 1
So a Canadian Multinational Company operating in the US would not be subject to this tax?
A Canadian multinational company operating in the US would be subject to the 15% global minimum corporate tax if:
The company is considered a multinational enterprise (MNE) with consolidated group revenue of at least €750 million ($812 million) in at least two of the four preceding years.
The company's effective tax rate (ETR) in the US (or any other country) is below 15%.
In this case, the US would be considered the "source" country, and the top-up tax would be applied to bring the ETR up to 15%. The tax would be collected by the US government.
If the Canadian MNE's US subsidiary pays a low tax rate due to US tax incentives or other reasons, the top-up tax would be applied to ensure the company pays at least 15% in the US. This ensures that large MNEs operating in the US pay a minimum level of tax on their profits, regardless of their parent company's location .
CASE 2
But the US is not in the agreement...
Since the US has not implemented the OECD's Pillar Two global minimum tax agreement, a Canadian multinational company operating in the US would not be directly subject to the 15% top-up tax under this specific agreement.
However, if the Canadian company has operations in other countries that have implemented the Pillar Two rules, those countries could apply the top-up tax to the company's profits in their jurisdictions if the effective tax rate is below 15% .
The US's non-participation in the agreement means that US-based MNEs are not subject to the same rules, but it may also impact the competitiveness of foreign MNEs operating in the US, as they would need to comply with the rules in other countries where they operate .
What would be the tax standing of my Canadian Multinational in the US?
As the US has not implemented the OECD's Pillar Two global minimum tax agreement, a Canadian multinational company operating in the US would be subject to regular US corporate tax laws.
The company's US subsidiary would pay taxes on its US-sourced income according to the US corporate tax rate, which is currently 21%. The company might also be eligible for various tax credits, deductions, or incentives offered by the US government.
In terms of taxation, the Canadian multinational would:
Pay US corporate taxes on its US-sourced income
Potentially claim tax credits or deductions for foreign taxes paid in Canada or other countries
Be subject to withholding taxes on certain types of income, such as dividends, interest, or royalties, paid to its Canadian parent company
The company's tax obligations in the US would be determined by US tax laws and regulations, as well as any applicable tax treaties between the US and Canada .
Sounds messy...
International taxation can be complex, with multiple countries and tax regimes involved. The interaction between different tax systems, treaties, and regulations can create complexity and challenges for multinational companies.
In this case, the OECD's efforts to establish a global minimum tax aim to simplify and bring more consistency to international taxation. However, the US's non-participation in the agreement adds a layer of complexity for companies operating in the US and other countries that have adopted the new rules .
Read all about it: Canada's Digital Services Tax... and it kicks in Monday!!
What is Canada's digital services tax — and why does Trump dislike it so much? | CBC News
Copilot:
Are there currently Digital Services taxes on the books anywhere in Europe?
Yes, several European countries currently have Digital Services Taxes (DSTs) in place, even as global negotiations continue under the OECD’s “Pillar One” framework. These national DSTs are typically temporary measures aimed at taxing large digital companies—especially those earning revenue from local users without a physical presence.
๐ช๐บ Countries with DSTs in Effect
Here are some notable examples:
France: A 3% DST on revenues from digital advertising, marketplaces, and data sales. It was one of the first to implement such a tax.
Italy: Imposes a 3% DST on digital services revenue earned from Italian users.
Spain: Also applies a 3% DST, targeting online advertising, intermediation services, and data transmission.
Austria: Has a DST focused specifically on digital advertising revenues.
United Kingdom: Introduced a 2% DST in 2020 on revenues from social media platforms, search engines, and online marketplaces that derive value from UK users.
These taxes generally apply only to large multinational firms that exceed certain global and domestic revenue thresholds.
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