Skip to comments.Italian Finance Minister Warns Berlusconi: Resign or There Will be Monday Market Bloodbath
Posted on 11/04/2011 12:25:23 PM PDT by SeekAndFind
Italian Finance Minister Giulio Tremonti threatened PM Silvio Berlusconi today that, if the PM doesn't resign, there will be a steep price to pay.
Via the Financial Times:
I am saying that on Monday there will be a disaster on the markets if you, Silvio, stay at your post and do not go. Because the problem for Europe and the markets, correct or not as it may be, is in fact you.
The relationship between Tremonti and Berlusconi has long been testy, but this appears to be a serious escalation of the tension between them.
(Excerpt) Read more at businessinsider.com ...
Ma suh. Atsa nice! Mama mia! We’re inah biggah trouble ah now!
Goldman’s man at the ECB must have called to say “We no gonna buy you bonds no more”.
I guess this is the standard line for scaring politicians. Do X or the markets will crash. Paulsen used that line, as did Geithner.
“Leave the gun..take the cannoli....”
Italy’s problems will make the Eurozone pine for the days when their biggest problem was Greece. They could always cast Greece adrift. Italy is into French banks something like 2 trillion Euros. And after Italy, Spain, then Portugal, then Ireland...
I’m no fan of either Berlusconi or Papandreou. But if this has reached the stage where financial institutions are now able to run elected leaders from office, things are going to start getting very dicey indeed.
Script kinda writes itself.
“Owing to market pressures the confusion caused by a long and drawn out presidential transition from election in November to January’s swearing in would send mixed messages to bond markets. Therefore we must stick with the existing administration to save the dollar.”
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