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: Kevin Gosztola Thursday September 20, 2012 9:00 am|
The highest appeals court in Italy upheld verdicts against twenty-three Americans, all of whom are CIA agents except one. They were found guilty of kidnapping an Egyptian cleric known as Abu Omar in 2003. Omar was flown to Egypt and tortured.
Though they each were given sentences of seven years or more, none of the American intelligence agents, including former Milan station chief Robert Seldon Lady, will ever serve a day in jail in Italy. However, they will be (and have been) limited in their abilities to travel to Europe since their convictions.
|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.
|By: fatster Tuesday June 26, 2012 6:13 am|
Fatster’s daily roundup of news you may have missed from Monday, June 25, including stories about Syrian women, Syrian rebels, Silvio Berlusconi, Zeke Emanuel, record corporate profits, Jimmy Carter, watching drone strikes, Trans-Pacific Partnership negotiations, Darrell Issa, Joe Biden, Loch Ness Monster, voter suppression, Ruch Limbaugh, Apple wages, oil workers, and much more.
|By: David Dayen Monday November 21, 2011 12:40 pm|
Silvio Berlusconi, the Italian leader whose government fell with pushing from Germany, France, and the central bankers, is now plotting his comeback but making sense: he’s saying the European Central Bank needs to do its job or the whole Eurozone will collapse — and he’s probably right.
|By: David Dayen Saturday November 12, 2011 4:00 pm|
The Economist has a great elegy for my favorite
soon-to-be now deposed leader, Silvio Berlusconi. If you gave me a list at the beginning of the year of Hosni Mubarak, Moammar Gadhafi and Berlusconi, I would have said that Berlusconi would have been the hardest one to dislodge from power. It took him almost destroying his country with his governance – for the second time – to finally bring the hammer down.
|By: David Dayen Wednesday November 9, 2011 7:30 am|
If the Euro Nations suffer a financial collapse, it could push the US back into recession. Italian borrowing costs soared again, beyond sustainable levels, risking that collapse. And there’s still little progress in sorting out the Italian or Greek leadership choas. This is not good.
|By: David Dayen Tuesday November 8, 2011 9:53 am|
The cost for Italy to borrow has been steadily rising and is now approaching the level at which experts believe it can’t service its debt payments. That means the Euro crisis, which could significantly affect the US, is getting worse, the previous bailouts have failed and the institutions that could save this are looking at each other not knowing what to do.
|By: David Dayen Monday November 7, 2011 9:15 am|
With Greece knuckling under to the European financial “troika,” the pressure is now on Italy to impose austerity on itself, just as Greece did. Italy’s borrowing costs are now much higher than Germany’s and may be unsustainable. There are calls for Italy’s Berlusconi to resign, and a confidence vote focused on the austerity package may occur soon.