Markets in Italy are freaking out today, mainly because of the pronouncement of one man, Silvio Berlusconi. The former Prime Minister plans to run for office yet another time, and Mario Monti, the current caretaker leader, has resigned, setting up new elections probably in February.
|By: David Dayen Wednesday June 27, 2012 11:10 am|
This EU summit scheduled for tomorrow has all the earmarks of a disaster. First, technocrats released a sovereignty-destroying proposal that would combine all of the worst elements of a fiscal union, not solving the growth imbalance problem while practically mandating austerity from the top, stripping authority from the elected representatives of the various countries.