Italy At Breaking Point, Merkel Calls For "new Europe"

Reuters: Business News, Reuters: Business
Wed, 11/09/2011 - 4:48am

Italy at breaking point, Merkel calls for

ROME/LONDON (Reuters) - Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.

Senh: Europe's third largest economy is in need of a bailout that the euro zone can't afford. Holy moly. It feels like a domino effect now. First Greece, now Italy. More holes to plug. Hopefully, Italy is the last one.

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