ROME/BERLIN, Nov 10 (Reuters) – Political and economic
crisis in Italy spurred fears of a split in the euro zone with
borrowing costs for Europe’s third biggest economy near
unsustainable levels and the bloc unable to afford a bailout.
The escalating crisis prompted European Commission President
Jose Manuel Barroso to issue a stern warning of the dangers of
splitting the zone. EU sources told Reuters French and German
officials had held discussions on just such a move.
ROME/BERLIN (Reuters) – Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi’s insistence on elections instead of an interim government threatened prolonged instability and kindled fears of a split in the euro zone.
European Commission President Jose Manuel Barroso issued a stern warning of the dangers of splitting the zone, rocked by an escalating debt crisis. EU sources told Reuters French and German officials had held discussions on just such a move.
ROME/BERLIN (Reuters) – 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.
In a dramatic escalation of the euro zone debt crisis, Italian 10-year bond yields shot above the 7 percent level that is widely deemed unsustainable, reflecting an evaporation of investor confidence and prompting German Chancellor Angela Merkel to issue a call to arms.
ROME, Nov 9 (Reuters) – Prime Minister Silvio Berlusconi’s
pledge to resign after implementing economic reforms did nothing
on Wednesday to staunch a perilous collapse in market confidence
Financial markets have been clamouring for weeks for
Berlusconi to depart because of his failure to push through
painful austerity measures.
ROME/ATHENS (Reuters) – - Italian Prime Minister Silvio Berlusconi became the biggest political casualty of Europe’s debt crisis on Tuesday when he announced he would step down after being stripped of his majority in parliament.
Berlusconi said he would leave office after parliament approves a budget law that includes reforms demanded by Europe, which is struggling to prevent the debt crisis from spreading to the third largest economy using the euro single currency.
ROME (Reuters) – Italian Prime Minister Silvio Berlusconi said on Tuesday he would resign after suffering a humiliating setback in parliament that showed a party revolt had stripped him of a majority.
Berlusconi confirmed a statement from President Giorgio Napolitano that he would step down as soon as parliament passed urgent budget reforms demanded by European leaders after Italy was sucked into epicenter of the euro zone debt crisis.
ROME (Reuters) – Silvio Berlusconi dominated Italy for 17 years with a unique mix of political talent and brazen behavior but in the end it was market pressure from abroad that brought him down.
Berlusconi confirmed on Tuesday that he would stand down after a new budget law is approved in parliament.
ROME (Reuters) – Italian Prime Minister Silvio Berlusconi will resign following a humiliating vote in parliament on Tuesday, President Giorgio Napolitano said.
The president said after meeting Berlusconi that the 75-year-old prime minister would step down as soon as parliament passed urgent reforms demanded by euro zone leaders to cut Italy’s huge debt and boost stagnant growth.
ROME/ATHENS (Reuters) – Financial markets held their breath on Tuesday as Italian Prime Minister Silvio Berlusconi’s reform-shy government teetered on the brink and debt-crippled Greece’s leaders struggled to put together a national unity government.
Berlusconi’s closest coalition ally, Umberto Bossi, head of the populist Northern League, told the 75-year-old billionaire media magnate to resign in what could be a mortal blow. But Berlusconi clung to office before a crunch vote in parliament.
ROME (Reuters) – Silvio Berlusconi’s closest coalition ally Umberto Bossi told him to resign on Tuesday in what could be a mortal blow to the Italian prime minister.
Bossi, head of the devolutionist Northern League, said the 75-year-old media magnate should be replaced by Angelino Alfano, secretary of the premier’s PDL party.