rl2010weblog.blogspot.com: Italy moves toward economic and political change - Yahoo!

Friday, November 11, 2011

Italy moves toward economic and political change - Yahoo!

Italy moves toward economic and political change - Yahoo!

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RAYLOKENovember 11, 2011 at 1:50 PM
A set of austerity measures cleared the Italian Senate by a vote of 156-12. The lower chamber of Parliament will vote Saturday, and Prime Minister Silvio Berlusconi has said he will step down once the reforms are passed.
In a sign of confidence from investors, Italy's borrowing costs fell sharply. The yield on benchmark Italian 10-year bonds fell to 6.48 percent, safely below the crisis level of 7 percent reached earlier this week.
Greece, Ireland and Portugal all required international bailouts after their own borrowing rates passed 7 percent. The Italian economy would not be so easy to save. It totals $2 trillion, twice as much as the other three countries combined.
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