The political crisis in Italy is reaching its climax. Prime Minister Silvio Berlusconi has yielded to pressure and announced that he will resign, paving the way for new elections. A national unity government may lie in Italy’s future, which is what the EU is pushing for as the best hope to end Italy’s worsening debt crisis.
Stock markets all over the world do not seem to place much faith in any successor to Mr. Berlusconi. Asian markets fell sharply, with Hong Kong faring the worst at -4.4%. The Dow lost more than 3%, and European exchanges were in similarly bad condition.
To see the headlines and the articles, open the full news post.
Notice to tipsters: Please don’t submit extensive excerpts from articles that have been posted behind a subscription firewall, or are otherwise under copyright protection.
Commenters are advised to leave their comments at this post (rather than with the news articles) so that they are more easily accessible.
Caveat: Articles in the news feed are posted “as is”. Gates of Vienna cannot vouch for the authenticity or accuracy of the contents of any individual item posted here. We check each entry to make sure it is relatively interesting, not patently offensive, and at least superficially plausible. The link to the original is included with each item’s title. Further research and verification are left to the reader.