Business

Italy’s Rumor Mill: Will Silvio Berlusconi Resign?

Pressure is mounting on Premier Silvio Berlusconi to resign so a new government can pass the economic reforms that Italy needs avoid a financial disaster.

Several prominent figures in the government and media have already predicted or reported that the Premier is about to resign.

“That Silvio Berlusconi is about to step down is now clear to everybody, it’s a matter of hours, some say minutes,” Giuliano Ferrara, the respected editor of the Il Foglio daily and a confidante of Berlusconi, said in a video posted on the newspaper’s website according to Reuters.

“Berlusconi will resign between tonight and tomorrow,” tweeted Franco Bechis, deputy director of daily newspaper Libero according to EU Observer.

Another journalist for center-right daily Libero, Franco Bechis, also said on Twitter that Berlusconi was about to resign.

However, in a statement reported by the ANSA news agency, Mr. Berlusconi said talk of his imminent resignation was “without foundation and I do not understand how it got around,” according to the New York Times.

In the last few weeks, Italy has become the new focus of the eurozone debt crisis, as its debts are huge, its growth is slow, and its economy too large to bail out. Investors want the government to pass measures to boost growth and cut debt, but Berlusconi’s majority in parliament is weakening by the day.

There is growing concern that Berlusconi himself is the problem because he no longer commands enough loyalty to ensure the quick reforms that European and international financial officials say Rome must achieve to avoid a dramatic debt crisis like the one that is bringing Greece to its knees.

Financial improprieties as well as the “bunga bunga” sex scandals have made it all but impossible for the Premier to command the type of respect necessary to control the situation.

His coalition government has suffered defections and the possibility of early elections is growing.

The ultimate fear is that Italy – the third-largest economy in the eurozone – might need an international bailout to handle its enormous €1.9 trillion ($2.6 trillion) debt. That is too expensive for Europe to handle, and could trigger a default that would break up the 17-nation eurozone and drag down the global economy.

Essentially, it’s the same fear the eurozone has for Greece.

During a G-20 summit last week, Berlusconi had to ask the International Monetary Fund (IMF) to monitor the country’s reform efforts.

Public administration minister Renato Brunetta, a Berlusconi loyalist, acknowledged Monday that the government has a “numbers problem” in parliament and said if a majority is lacking then “everybody goes home.”

Interior Minister Roberto Maroni agreed, adding “it is useless to persist.”

But Berlusconi has remained defiant, insisting he still commands enough support in Parliament to enact the reforms.

“We maintain that there are no alternatives to our government until 2013,” when elections are due, Berlusconi told a political gathering Sunday.

This week brings the first in a string of votes in Parliament on reforms and other stopgap measures to lower Italy’s debt – now at 120 percent of GDP – and revive the dormant economy.

Berlusconi has also pledged to raise the retirement age to 67 for all workers to match European trends, despite the fierce resistance of his allies in the Northern League.

If Berlusconi’s forces lose upcoming votes in parliament, the Italian president, who has repeatedly urged Berlusconi to take decisive steps immediately to rescue the nation, could intervene and rule that it is time for a new government. But only the loss of a confidence vote can force a government to resign.

The leader of Italy’s largest labor confederation, meanwhile, is predicting 2012 will be a “terrifying” year for the economy even if the beleaguered Berlusconi leaves power soon. Opposition leader Susanna Camusso on Monday also slammed Berlusconi’s anti-crisis plan as containing virtually nothing to spark economic growth.

“I hope there will be (early elections), and that they will be soon for the good of the country,” she told The Associated Press.

The Associated Press contributed to this story.

Comments (22)

  • thegreatcarnac
    Posted on November 7, 2011 at 4:44pm

    Bersculoni ? Resign? Not on your life. Then where would he get his young women???

    Report Post »  
    • thegreatcarnac
      Posted on November 7, 2011 at 4:46pm

      I mean….“Berlusconi”

      Report Post »  
    • techengineer11
      Posted on November 7, 2011 at 7:16pm

      The Jewish NWO doesn’t like this man.. .Just watch the way they cover him in their Media.

      Consider Richard Nixon. Was what he done really that egregious in hindsight knowing all that we know today yet he’s suppose to be the next worse thing to Hitler.. lol

      All one has to do is listen to the conversation between him and Billy Graham to understand why the Media so hates him… lol

      Even our ole boy Beck warns us to beware of who the Media loves and curious over who they dislike… Think about it.

      Report Post » techengineer11  
  • Veritas Vincit Omnia
    Posted on November 7, 2011 at 2:35pm

    Clever enough to run a country, Clever enough to know the wider symbolism.
    Got to make you wonder.

    Isaiah 29:18
    On that day the deaf shall hear the words of a scroll, and out of their gloom and darkness the eyes of the blind shall see.

    The truth is eternal, time to open those eyes people.

    Report Post » Veritas Vincit Omnia  
    • This_Individual
      Posted on November 7, 2011 at 6:06pm

      Please, your are giving this idiot too much credit. It is a widely used symbol in Italy (especially Southern Italy). Besides the image of satan having horns, wings, and hooves are a depiction taken from Pan or Faunus by those who wished to paint the ancient religions in a bad light. Something Berlusconi figlio di miniota, knows nothing about.

      Report Post »  
  • autigers2010champs
    Posted on November 7, 2011 at 1:41pm

    One world government is coming fast real fast

    Report Post » autigers2010champs  
  • scoter
    Posted on November 7, 2011 at 1:28pm

    http://www.helpfireobama.com Please give $20.12

    Report Post » scoter  
  • algerville
    Posted on November 7, 2011 at 1:20pm

    This is the sign of the illuminati…look it up…It is satan worship

    Report Post »  
    • This_Individual
      Posted on November 7, 2011 at 1:36pm

      The sign has two meanings. The meaning changes if the sign is done towards somebody or not.
      If you do it towards somebody,
      it means ‘Cornuto’, which is to have horns. It means that, that person’s significant other cheats on him/her, which is considered a very bad insult in southern italy, where it’s also more common.
      If the sign it is not directed to anybody, it is supposed to protect you from bad luck. A tipical example is when somebody tells you something negative, like “be careful or you’ll break your leg”, you do the horn sign to kick away those word’s bad luck.

      Report Post »  
    • Charlie Justice
      Posted on November 7, 2011 at 5:02pm

      He’s a Texas Longhorns fan

      Report Post » Charlie Justice  
    • Psysam
      Posted on November 8, 2011 at 9:44am

      Yes of Couse! They’re all DEVIL worshipers! Members of the NWO. I know cause‘ I AM A Master Mason moving up the Devil’s Ladder. Now unzip the fly in your skull and re-wash your brain! Useful Idiots are necessary for us to continue our Evil Plans! The Bilderburgs, CFR, Tri-lateral commish, Skull and Bones, etc. We gottcha! LOL!

      Report Post » Psysam  
  • Ming The Merciless
    Posted on November 7, 2011 at 12:52pm

    Must’ve taken his picture at a Slayer concert that rolled thru Italy recently…

    Report Post » Ming The Merciless  
  • NDCORUP
    Posted on November 7, 2011 at 12:47pm

    Silvio is giving the “Longhorn” sign?

    Or could it be the Baphomet Occult Symbol? hmmmmmm……..

    Clinton, both Bushes, many other high level pols use this often, if nobody ever noticed.

    Report Post »  
    • YoungBloodNews
      Posted on November 7, 2011 at 12:54pm

      This is the MOST IMPORTANT COMMENT HERE ^^^

      Wake up, these people worship the devil. Why do all the world leaders, monarchs, and celebs throw up these signs? Too many do it to often to be a coincidence, but I guess they are all just fans of KISS and Ozzy right?

      Evil exists in this world whether you want to believe it or not. Just turn on your radio and listen to all the hymns to mammon…

      Report Post » YoungBloodNews  
    • Shane74
      Posted on November 7, 2011 at 1:26pm

      People need to research this! It happens constantly with our world leaders! Look it up if this is news to those of you who haven’t seen it before.

      Report Post » Shane74  
    • This_Individual
      Posted on November 7, 2011 at 3:25pm

      Please tell me you are joking.

      Report Post »  
  • chanteuse
    Posted on November 7, 2011 at 12:27pm

    Sound like somebody finally was offered a lot of money!

    Report Post »  
  • spudwhite
    Posted on November 7, 2011 at 12:21pm

    Devils-horns symbol. Odd…

    Report Post »  
  • AxelPhantom
    Posted on November 7, 2011 at 11:38am

    Didn’t know he was a Texas Longhorns fan or is that a mob symbol?

    Report Post »  

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