"Coalition ally presses Berlusconi on tax cuts" June 19, 2011|By Frances D’Emilio, Associated Press
ROME — Beleaguered Prime Minister Silvio Berlusconi came under pressure on two fronts yesterday: His crucial coalition ally demanded tax cuts or early elections, and Italy’s credit rating appeared in danger because of high public debt and a laggard economy....
Eurozone chief Jean-Claude Juncker warned yesterday that contagion from Greece’s debt crisis could spread to other European countries, including Italy....
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Related: Boston Globe Closes Doors on Berlusconi Trial
Next Day Update:
"Confidence vote buoys Berlusconi" by Associated Press / June 22, 2011
ROME — Premier Silvio Berlusconi said yesterday that it would be “folly’’ for him to quit two years ahead of term, warning that political instability would leave the country prey to financial speculators....
You know what? Already have been, so WTF?
Berlusconi clinched a morale-boosting win in the lower Chamber of Deputies earlier yesterday in a vote tied to legislation. It was the first parliamentary test of his staying power since two stinging defeats at the polls for his conservative party and his government’s policies in the last few weeks.
See: Italian Voters Kick Berlusconi Butt
In a pitch to the Senate for continued support, the billionaire media mogul, who is starting his fourth year in office, also contended that there is no alternative to his coalition partnership with the Northern League, which opposes Italy’s involvement in NATO’s operations in Libya.
He defended the NATO mission in Libya, saying “up to now it has saved thousands of lives.’’
As they murder civilians in Tripoli.
Berlusconi dangled the specter of financial disaster, like that rocking Greece now, if he were to step down. Stepping down with no other leader poised to replace him would be folly, he said.
How long are people going to fall for problem-reaction-solution from those who have created the very problem and have profited?
So far, Italy — despite its laggard lagging economy and high public debt — has escaped financial debacle.
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