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silvio berlusconi, debt crisis
(Image from article: "Berlusconi Vows Not to Resign")

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Italy at breaking point, Merkel calls for "new Europe"

Italy at breaking point, Merkel calls for

Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's insistence on elections instead of an interim government opened the way to prolonged instability and delays to 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.

 

Berlusconi Vows Not to Resign

Berlusconi Vows Not to Resign

As markets continued to hammer Italy, Prime Minister Silvio Berlusconi rebutted calls for his resignation, saying Italy’s economic fundamentals were strong.

 

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