Burlesconi to resign

[Technologic]

http://www.bbc.co.uk/news/world-europe-15646536


Italian Prime Minister Silvio Berlusconi will resign after key economic reforms have been approved, the country's president says.
(http://www.bbc.co.uk/news/world-europe-15646536)Mr Berlusconi's decision follows a vote on the budget in parliament, in which he appeared to lose his majority.
Both allies and opponents have been urging him 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.
(http://www.bbc.co.uk/news/world-europe-15646536)

[Jordy]

Remarkable such a controversial and dare I say corrupt figure managed as many as 3 years in power tbh (Plus his other two terms in the past). No doubt this'll give the markets more confidence in Italy but it's most probably too late for the country and Eurozone in general.

Italy's financial woes do seem somewhat unique though, it doesn't actually have a large deficit, just an enormous amount of short-term debt.

[GommeInc]

Weird, not sure what to say. He hated the Euro and used to go on about how Italy was better off with the Lira. He was an odd individual and I don't really know what he was like as a leader as you rarely hear or see much of him in that environment. Italy as a country seems more interested in what happens within its own borders than any interference or interests outside, so I've always questioned why they are in the Euro and the EU when they may benefit not being inside it (like many other EU countries).

[-:Undertaker:-]

Nigel Farage

Whether Berlusconi survives this latest vote is irrelevant: Italian finances are doomed

..and if you look at the bond yields, Italian bonds are approaching the 7% tipping point.

I have to say though, as much as i've been enjoying watching the Euro self-implode (as we 'little englanders' said it would do so) you have to spare a thought for the peoples of Europe who have been suffering under this awful currency which was imposed on them by the European Union and deceptive national politicians in their crazed attempt to create a European superstate.

Lets hope it takes the EU down with it.

[beth]

i don't really have a massively intelligent point to add about burlesconi but he's always amused me with his blunders. he comes out with some **** sometimes.