As Greece finally gets itself together, the spotlight has shifted to yet another European country with a debt problem even worse than that of the former mentioned.

Italy, the 3rd largest economy in the Eurozone, had claimed for a lengthy amount of time that it didn’t have a debt problem, but now finds itself in a hole and in the center of it is Prime Minister Silvio Berlusconi.

A blog I found on The Economist regarding the end of Berlusconi’s reign clearly expressed the opinion of the Italian people. Berlusconi wasn’t a very liked man―especially in recent months as he stood and watched the Italian economy deteriorate to crisis levels leading many (71% of citizens) to call for his resignation. After losing a key vote this week, he was asked to step down once economic reforms had been passed through parliament and it was to the delight of not only the Italian people, but global markets in hopes Italy would now be able to save itself. (Video Summary)

One might wonder how someone with 17 years of political experience could have led a country into so much debt but looking at Greece as well, it’s not experience that makes a difference. The key to recovery is strong leadership and action, both of which neither country had.

Will the Eurozone survive? Only time will tell.