So Long, Silvio?
Either Italian Prime Minister Silvio Berlusconi is in serious denial mode or he's about to pull off a recession-defying stunt of unprecedented proportions, as pressure is mounting for the embattled PM to follow the fresh example of his Greek counterpart (more).
Either Italian Prime Minister Silvio Berlusconi is in serious denial mode or he’s about to pull off a recession-defying stunt of unprecedented proportions, as pressure is mounting for the embattled PM to follow the example of his Greek counterpart George Papandreou and step down.
In true Berlusconi form — by which we mean bombastic and slightly delusional but propped up by so much money and power as to be able to buy into his own hype — he ignored calls for his resignation from his people and predictions from journalists and analysts that his hours in office were numbered and took to Facebook to make his stand. (Click here to “Like” his page.)
It’s never a hopeful sign when resignation rumors cause good things to happen on the stock market. But at least one expert commentator type, Dartmouth economics professor and Bloomberg Television editor David Blanchflower, cautions that pushing Berlusconi out won’t necessarily put Italy on the path to recovery. Blanchflower’s comments follow the excerpt below. –KA
CNNMoney:
Italian Prime Minister Silvio Berlusconi denied rumors Monday that he might resign.
“The rumors of my resignation are groundless,” a message on his official Facebook page said.
A press aide to Berlusconi also told CNN he had no plans to resign.
On Saturday, tens of thousands of demonstrators gathered in Rome to voice their opposition to his government and its reforms. Berlusconi, who has served as prime minister for 10 years, could face a vote of confidence this week over his handling of Italy’s economy. Analysts say he may no longer have the support of a majority in parliament.
Bloomberg Television via The Washington Post:
Your support matters…Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
TD Original
An historic progressive coalition looks to change the course of politics on the island.
Social Justice
As many as 70,000 child care centers are projected to close in the next several months as pandemic-era federal funding ends, pushing an industry already in crisis to a breaking point.
The budget proposal offers a terrifying preview of what we can expect from Trump if he wins another four years in office.
The former mayor of South Bend, Indiana, draws fire for claiming it's "not fashionable in progressive circles" to talk about the deficit.
Iraqis are demanding an end to corruption and sectarianism, while also objecting U.S. troops and Iranian influence.
From Chile to Iraq, popular uprisings against austerity and corruption are spreading like wildfire at a crucial point in history.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.