New Italian PM has Tough Job – Monti said he would carry out the task “with a great sense of responsibility and service toward this nation”. He said Italy must “heal its finances” and resume growth because today’s leaders owe it to future generations. The former European Union competition commissioner received the formal mandate from [...]
Italian Prime Minister Resigns – A chorus of Handel’s Alleluia, performed by a few dozen singers and classical musicians, rang out in front of the president’s palace as thousands of Italians poured into downtown Rome on Saturday to rejoice at the end of Berlusconi’s scandal-marred reign. Hecklers shouted “Buffoon, Buffoon!” as Berlusconi’s motorcade entered and [...]
Tags: italy, silvio berlusconi
Posted in Politics, World
Italian Borrowing Costs Continue Climb – Italian 10-year bond yields shot above the 7 percent level that is widely deemed unsustainable, reflecting investors’ concerns that they may not get their money back, a fear that also showed up in a jump in the cost of insuring against Italian debt default. Portugal and Ireland were forced [...]
Tags: Borrow Money, italy
Posted in Money
Silvio Berlusconi Will Resign – Markets in Asia rallied and Italian borrowing costs fell, on hopes that the eurozone debt crisis already ravaging Greece might yet bypass Italy if the bloc’s third-largest economy gets serious about reform under new leadership. “After the adoption of the stability law, which will contain all the requests made by [...]
Tags: italy, silvio berlusconi
Posted in Politics, World
Italians Strike Against Austerity – “This is a plan the country doesn’t deserve,” said Susanna Camusso, the secretary general of the CGIL as she led a protest march through Rome hours before the austerity plan was to go before the Senate on Tuesday. Marches were also taking place in towns and cities across the country. [...]
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