MLA:
Moody, Barry. " Europe debt crisis brings down Italy's Berlusconi | Reuters ." Business & Financial News, Breaking US & International News | Reuters.com. N.p., n.d. Web. 18 Jan. 2012. <http://www.reuters.com/article/2011/11/08/us-eurozone-idUSTRE7A72R320111108>.
In this article, Moody discusses the reasons behind Berlusconi’s resignation and his lasting effect on Italy’s economy. After being stripped of his majority in Parliament, Berlusconi resigned. He had previously said that he’d step down after parliament approved a budget law that included reforms demanded by Europe. Berlusconi dominated Italy for 17 years and “his failure to implement reforms fueled a party revolt,” which led to his resignation. The yield on 10-year Italian bonds are up to 6.79%, which is the highest they have been since 1997. These extremely high levels make it “unaffordable for Italy to continue to finance its own debt,” but Italy is regarded by many as too big to bail out. Berlusconi’s resignation had “an immediate positive impact on markets in the United States [because] the euro jumped against the dollar and US stocks edged up.” This is a very good and informational article, and I do not think it is biased at all. It gives two clear perspectives on Italy’s economy, with some people hopeful that it will get better, but also views that the bailouts may not work. This article also compares Italy to Greece and discusses many solutions for the future of Italy’s economy.
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