Bonds, Not Bunga-Bunga Best Berlusconi

It’s not the bunga-bunga that gets them. It’s the bonds. Looks like Italy’s beleaguered prime minister, Silvio Berlusconi, is the latest to learn that. He squeezed his quickly cobbled together austerity package through parliament, but at the cost of his governing coalition holding together. What months, or is it years, of partying in questionable taste and the after scandals couldn’t do to him, the yield on his country’s sovereign debt could. Berlusconi has offered to resign, albeit at a time uncertain. Investors have spoken. Electors, it seems, weren’t consulted.

Advertisements

Leave a comment

Filed under Credit Crisis

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s