Italy in the Spotlight - Eurozone Crisis

Guardian Live: Reports that EU is waiting for an economic plan from the Italian Government that will have cuts and get Italy moving on the economic front. The EU will be waiting forever folks if they think that PM Silvio Berlusconi is going to do anything that is a threat to his base of power, the Italian Government is a Coalition Government, as with the Lib Dems in the UK the power of movement by Berlusconi is limited, as the article notes his allies have vetoed reforming the retirement age in Italy, also lets be honest here folks, the Italian State is owned by the European Central Bank, if the ECB says jump the Italians have to say how hi Sir, the dressing down of Italy by Germany and France has shown how weak the Berlusconi Government is on the political and economic front, if Italy goes under then you can forget the Euro, the major aim will be keeping the EU going, its that serious folks. In other words EU cant not push Italy to far, what if they decide to default for their own well being, that would be disaster in the short term for Rome but a end event for the EU. Thus Greece might be a sideshow folks, it could be that Rome is the new crisis centre, there are limits to how much the German taxpayer is willing to fork out folks, could Italy destroy the EU?.

George Osborne - Euro HERO ?

Telegraph Live: Reports that the Coalition UK Chancellor of the Exchequer George Osborne is getting praise for keeping the EU finance ministers in talks on Sunday. This will keep the Labour Party quite, the right wing Conservative backbench MPs will not be happy, Mr Osborne can forget becoming the next Conservative Leader. At the end of the day it will take the UK at the tiller, as long as it does not cost the UK taxpayer any more money, a good days work by the Chancellor of the Exchequer.

Big Plan NO Details - Eurozone Crisis

BBC News: Reports that Finance Ministers in meeting set for Wednesday before the EU leaders meeting has been cancelled till after the leaders meeting. Thus politicians will come out with a BIG PLAN, that’s the hope but no details, the devil is always in the detail folks, recall the Gordon Brown Budgets, always look good but then a dark cloud was always in the details. The Stock Markets have not reacted well, then have gone on a dive, but why they went up is a bit of mystery. Lets see if the EU meeting on Wednesday is all smoke but no substance, the markets will tank if that is the case folks.