Italian Prime Minister To Resign

By ⋅ November 8, 2011 ⋅ Post a comment
Silvio Berlusconi (Photo: BBC)

Silvio Berlusconi (Photo: BBC)

Italian Prime Minister Silvio Berlusconi has confirmed he intends to resign after key economic reforms have been approved.

His announcement follows a vote in parliament on the budget in which he appeared to lose his majority.

Both allies and opponents have been urging Mr Berlusconi to step down as Italy’s debt crisis grows.

Borrowing rates have shot up in recent days, raising concerns over whether Italy can service its debts.

While Italy’s deficit is relatively low, investors are concerned that the combination of Italy’s low growth rate and $2.6 trillion debt could make it the next country to fall in the eurozone debt crisis.

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One comment for “Italian Prime Minister To Resign”

  • http://twitter.com/Balkingpoints Balkingpoints.com

    Across the world the issues remain of a badly tilted table, and whether governments have first obligation to citizens or to corporations. Those who have prospered the most in the present world economy, should understand those advantages to now be under a wholly legitimate form of scrutiny.

    Broad-scale rebalancing of those tables will be needed, to restore lasting order. Everyone is entitled to a fair chance to get by.