Berlusconi To Resign After Passage Of 2012 Budget... Some Time In The Future

Tyler Durden's picture

Surely this means all Italian labor unions, which are at the heart of this whole fiasco, will now gladly unravel and Italian debt will be promptly rolled. All $400+ billion of it in the next 12 months. 

Just out from Bloomberg:

  • BERLUSCONI TO RESIGN AFTER APPROVAL OF AUSTERITY LAWS
  • ITALY'S PRESIDENT NAPOLITANO COMMENTS IN E-MAIL STATEMENT
  • ITALY'S BERLUSCONI TO RESIGN AFTER APPROVAL OF AUSTERITY LAW
  • ITALY'S PRESIDENT TO START CONSULTATIONS AFTER RESIGNATION

Naturally there is fine print and it is that Berlusconi would resign after the 2012 Budget is passed. As a reminder, today saw the 2010 budget passage. So, Silvio is out... in 2013?

In the meantime, this:

 

...At least until Silvio updates his facebook wall and says it was all a misunderstanding.