Summary
It will count as poetic justice, of sorts, if the West returns to financial crisis thanks to a man fined pound(s)490 million in the country he is supposed to run. As the joke goes, Silvio Berlusconi is doing to the euro what he has been doing to Italy for years.
Typically, the staggering penalty handed down by a Milan appeals court on Saturday was for corruption by Fininvest, Mr Berlusconi's holding company. He has faced such charges - they alternate with sex scandals - many times, and survived. Italy's ability to weather a debt crisis is another matter. The eurozone's problems are no longer "peripheral".See the full content of this document
Extract
Blustering Berlusconi Is No Joke for Jittery Euro
The world's stock and bond markets told their own story yesterday. At one point, every company on the FTSE 100 was down. Banks across Europe were hammered. Yields - the interest payments - on Italy's debts edged ever closer to 7%, the point held to be unsustainable. And this in a c...
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