Europe is criticizing the Italian government for being objectively self-serving, corrupt, and undemocratic…It is as much a failure of the Italian government, as a failure of Europe. The head of the Italian state openly manipulates media and laws to ensure re-election in an overwhelming display of everything that turns democracy into a sham. It’s about time Berlusconi left, but the damage has been done; and Italy’s powerful debt (1.9trillion euros) is going to drag all of Europe down if they aren’t careful. You would think that after all of the destruction that he has cause for Italy, he would be begging Germany and France to help him. However, Berlusconi has proven to be even more arrogant and destructive, and Italy may potentially have no backup from surrounding countries. Perhaps the government should impose some unwanted taxes to clean up their mess? Would that even be enough?
“Although the rescue plan set out by the euro zone last month is in tatters, the European Central Bank could still gain time by pledging to buy Italy’s debt in unlimited quantities and to protect European banks, as The Economist has argued.” This seems to be Italy’s fighting chance of survival.