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Italy PM blames Germany, France for Euro debt crisis

Italian Prime Minister Mario Monti on Wednesday said the root of the eurozone’s debt woes lay partly in the irresponsible parenting ofGermany and France during the bloc’s infancy. Monti told reporters in Tokyo that because the eurozone’s two largest players had not abided by fiscal rules, they had set a bad example…

Wall Street set to fall on Italy fears

NEW YORK (Reuters) – Wall Street was set to fall on Tuesday, led by banks and resource-related stocks, as risk aversion tied to Europe’s debt crisis sent Italy’s bond yields back into a perceived danger zone. Prime Minister-designate Mario Monti was meeting with leaders of Italy’s biggest two parties to…

Europe could be in worst hour since WW2: Merkel

LEIPZIG, Germany (Reuters) - German Chancellor Angela Merkelsaid on Monday that Europe could be living through its toughest hour since World War Two as new leaders in Italy and Greece rushed to form governments and limit the damage from the eurozone debt crisis. A rally on financial markets sparked by the appointment of respected European technocrats…

Italian senate approves budget as Berlusconi era draws to close

ROME (Reuters) – Italy’s Senate approved economic reforms intended to reverse a collapse of market confidence on Friday, kicking off a rapid transition that will end the Berlusconi era and clear the way for an emergency government within days. The package of austerity measures demanded by the European Union will…

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