Silvio Berlusconi

Political risks will deepen eurozone woes

At a time when many observers were expecting the next steps in the euro crisis such as the establishment of a ‘banking union’ and the next packages for Greece, Cyprus and Portugal, the political situation has become more complicated. [...]

An Italian hell

Just when many commentators thought the euro crisis was over, Italy’s political earthquake has put it back on the agenda. The problem is not so much that it is practically impossible to form a stable government with different majorities in the two houses of parliament. The real issue is that the anti-austerity forces in Italy have won a large majority. [...]

Berlusconi battles towards an Italian liberation

Because of all his personal failings, it is unlikely the Italians will give Berlusconi a fourth chance to lead their country. But he will at least trigger a debate on the benefits of Italy’s continued eurozone membership, which may well end up with a divorce. [...]

The Italian omen

Europe’s problems remain painfully real. But it was wrong to believe that they would inevitably lead to a cataclysmic crisis. It now looks as if it’s going to be much worse. There is never going to be a solution, just a slow, ongoing decline. Not a purgatory from which there is an eventual escape route to heaven, but a Dantean inferno with its famous inscription above the gates: ‘Lasciate ogni speranza, voi ch’entrate’ – ‘Abandon all hope, ye who enter here.’ [...]