Guardian: Reports that the Italian Government is trying to come up with an austerity package that get approved by the Coalition Government, the EU has not helped by stating the following, “ saying the aim was not to humiliate Italy or punish it. ”. Folks can you think of a time when a modern EU Country has seen its PM given a dressing down by Germany and France and sent home like a naughty schoolboy to redo his homework, the French and Germans don’t trust the Italian PM to follow through with any agreement, lets face it PM Berlusconi has many political and legal reason to stay in power, thus when it comes to the crunch, it might be his political life that is more important than the Euro, why should the PM cut his base to keep French President happy or the Germans for that matter, it might be in his interest to bluff them, make them stop buying Italian bonds, then see the Euro and the EU go over a cliff. Then Italy can default and restart, otherwise its must more debt and being owned by the European Central Bank.
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