IMF to Save Italy, Spain from Default?
Northern resistance to fiscal union may necessitate a bigger role for the IMF in the euro crisis.
Southern Europe
Spain’s Conservatives Claim Historic Election Win
The opposition People’s Party will replace the socialist administration of Prime Minister Zapatero.
A Tale of Two Italies
The European debt crisis has exacerbated the north-side divide that has characterized Italy since unification.
Portugal’s Despondency Likely to Endure
Portugal’s economic prospects are dire because the nation’s political system isn’t prepared to reform.
Berlusconi to Resign? Be Careful What You Wish For
The besieged prime minister could leave Rome in turmoil if he leaves Italian politics.
Greek, Italian Leaders Under Pressure to Go
George Papandreou and Silvio Berlusconi are urged to resign by parliamentarians ahead of a G20 summit.
Greece Calls Referendum on Bailout Plan
“We trust citizens, we believe in their judgment,” said Prime Minister Papandreou. Many of his countrymen oppose the bailout.
Italian Government Divided Over Budget Cuts
Silvio Berlusconi’s coalition partners are opposed to the reforms other European leaders demand.
European Leaders Plan for Partial Greek Default
As Greece struggles to mend its deficit, eurozone countries debate whether to help banks in the event of a default.
Italy’s Credit Rating Suffers Further Downgrade
A rating agency says Italy’s weak growth and fragile government may not endure more austerity.
Europe’s Last Chance to Let Greece Default
Once European nations agree to a second financial rescue package for Greece, there’s no way back.
Italy’s Berlusconi Reneges on Austerity Pact
Italy revokes €5 billion in planned austerity measures in order to appease regional political parties.
Transatlantic Effort to Impose Fiscal Restraint
American and European conservatives push for balanced budget amendments, hoping to force their governments to cut spending.
France, Italy Hastily Implementing Austerity
Paris and Rome rush to cut public spending after a week of turmoil in the financial markets.
European Central Bank to the Rescue
Frankfurt moves to purchase Italian and Spanish sovereign bonds in an attempt to defuse the European debt crisis.