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Berlusconi is quitting

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posted on Nov, 8 2011 @ 01:14 PM
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Developing and just breaking.



posted on Nov, 8 2011 @ 01:16 PM
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reply to post by leo123
 


great start
edit on 8-11-2011 by Gwampo because: (no reason given)



posted on Nov, 8 2011 @ 01:16 PM
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www.ft.com...


High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email protected] to buy additional rights. www.ft.com...


Silvio Berlusconi is to resign as Italy’s prime minister following the approval of a new budget law, the country’s president was quoted as saying on Tuesday evening.

A senior official told the Financial Times that Mr Berlusconi has proposed to resign after parliament passes the new financial stability law containing the reform measures agreed with the European Union.

News of the billionaire prime minister’s plans to stand aside came after a day that saw him lose his majority in parliament and Italian bond yields set fresh euro-era highs, intensifying questions as to whether Italy will be able to service its debts.

Following the news of Mr Berlusconi’s offer to depart the euro gained 0.4 per cent against the dollar to $1.3836. Gold fell after earlier reaching $1,800 per troy ounce for the first time since September.



posted on Nov, 8 2011 @ 01:43 PM
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Italy's Berlusconi Agrees To Resign After Passing Austerity Bill
by Agustino Fontevecchia, Forbes Staff
www.forbes.com...


Italian Prime Minister Silvio Berlusconi, the seemingly untouchable media magnate who has brushed off countless scandals and challenges to his rule, said he would resign Tuesday after losing a governing majority in Parliament. Earlier Tuesday he passed a crucial budget vote, but failed to muster a majority on the measure. Meanwhile the $2.6 trillion Italian bond market moved toward unsustainable levels, with yields on benchmark 10-years surging past 6.7%.

“If I must die, I’ll do it in the House,” said a defiant Berlusconi on Tuesday, vowing to meet his “traitors” in Parliament. Hours later, he passed the key budget measure with 308 votes, seven short of a majority, as 321 lawmakers abstained. Berlusconi’s failure to marshal a 316-vote working majority on the budget measure suggested he would fail to pass a confidence vote, leading to calls for his resignation. Italian bond yields surged, and U.S. equity markets plunged deeper into negative territory.



posted on Nov, 8 2011 @ 01:48 PM
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Any other Mediterranean leaders going to disappear this year?

There's no logical reason why he would just relinquish power like that when he's stormed his way through years of far worse hate campaigning. It's not even in his interests as once out he faces prosecution on multiple charges and can't hide behind immunity..

Something's majorly amiss.



posted on Nov, 8 2011 @ 02:52 PM
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I dobut a new prime minster would fix anything, i would bet they would the same as Berlusconi the only difference is that he or she will be pushing for more Austerity Bills, i do see a foresee a major downturn coming, i mean

markets want to go up. but we still have - after silvio resigned a 10y IT yield of 6,63 - near the high of today. And we still have high oil prices, so what is the real reason of ths stock rise?



posted on Nov, 8 2011 @ 02:55 PM
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First Papandreou, then Berlusconi? Looks like TPTB are cleaning up southern Europe. Well, they can expect some high income jobs in WTO or something...



posted on Nov, 8 2011 @ 02:55 PM
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He's going to his underground bunker for some Bunga Bunga partying while the SHTF up here.



posted on Nov, 8 2011 @ 04:02 PM
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Originally posted by AstroBuzz
He's going to his underground bunker for some Bunga Bunga partying while the SHTF up here.


Exactly, now he can devote 24/7 to bunga bunga.




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