Politics

Berlusconi replacement will be an economist

11 November 2011

Newsroom Staff

By Susana Aguirre

In order to achieve the creation of a new credible and capable government of "national unity", Italy has ordered the replacement of Silvio Berlusconi by the economist and current director of the prestigious Bocconi University in Milan, Mario Monti.

Berlusconi has spoken out in favor of giving full support to Monti, in a letter congratulating him on his nomination as senator for life; Berlusconi wished him a fruitful work in the country’s interest, confirming his full support.

Greece finds no successor of Papandreou

09 November 2011

Newsroom Staff

grecia

By Eliane Portillo

Negotiations for reaching an agreement on the composition of the next Greek government remain stagnated after a long night of tension and rumors.

The main parties of Greece, New Democracy led by Antonis Samaras and the Panhellenic Socialist Movement led by Giorgios Papandreou, have not reached any agreement with regard to the crucial issues of the coalition government that should take the country out of the crisis it is suffering.

EU must boost bailout fund

19 October 2011

Newsroom Staff

By Eliane Portillo

Europe’s worsening debt crisis could significantly damage the U.S. economy, Treasury Secretary Timothy Geithner warned on Thursday as he urged Europe to shore up its bailout fund.

“Europe is so large and so closely integrated with the U.S. and world economies that a severe crisis in Europe could cause significant damage by undermining confidence and weakening demand,” Geithner told the U.S. Senate Banking Committee.