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.