Italian Prime Minister Silvio Berlusconi is in the news again, but for his economic policies, not his romantic escapades. The Italian economy, third largest in Europe, is starting to tank. The P.M.’s allies are jumping ship, urging him to quit. “That Silvio Berlusconi is about to resign is clear. It is a question of hours, some say of minutes,” wrote one long-time friend. The Prime Minister issued a denial: “Le voci di mie dimissioni sono destituite di fondamento” (“The rumors of my resignation are groundless “).
Silvio Berlusconi, third richest man in Italy, controls the country’s commercial television stations and newspapers and magazines. As PM, he controls RAI, the Italian government broadcasting network. So how did Mr. Berlusconi make his defiant announcement?
Related:
“Quick Primer On Chances Of Italy Destroying The World Economy,” Seeking Alpha
“Politicans and Business Close Ranks Against Berlusconi,” Fiona Ehlers, Spiegel Online
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Tags: Berlusconi, crisis, economic crisis, economy, Euro, European Union, Facebook, finanace, finanacial crisis, Italy, Silvio Berlusconi, social media
NotionsCapital 
November 8, 2011 at 9:19 am
UPDATES:
“Rome burns its Euroland bridges,” Alex Brummer, Daily Mail
“Euro crisis shifts to Italy, but Berlusconi says he won’t resign,” Eric Reguly, Globe & Mail
“Berlusconi’s top ally tells him to quit,” AP via NBC News
“What happens in Italy if Berlusconi goes?” John Hooper, The Guardian
“Profiles: Potential Berlusconi successors,” Mario Monti, BBC News
November 8, 2011 at 10:17 pm
MORE UPDATES:
Andy Borowitz: “BREAKING: Berlusconi Steps Down; Will Run National Restaurant Association”
“At Last! Silvio Berlusconi Says He’ll Resign,” Jim Newell, Gawker
“Berlusconi Promises to Resign,” Barbie Latza Nadeau, Daily Beast
“Italian Premier Pays Final Debt,” Stacy Meichtry, Wall Street Journal
“’I Am Tired’ The Berlusconi Interview: A Singular Political Career Draws To A Close,” Mario Calabresi, La Stampa via Worldcrunch
“Post-Berlusconi: Italy Has No More Time To Waste,” Federico Geremicca, La Stampa via Worldcrunch
“Italy After Berlusconi,” Beat J. Guldimann, The Globalist