Monday, November 7, 2011

Meanwhile, in another Mediterranean country ...

... a crunch vote on public finance is awaited in Italy.
The euro fell on Monday as markets eyed a crunch vote on Italy's public finances amid concerns the euro zone debt crisis could engulf the country, while the Swiss
franc was pressured by speculation of further policy action to curb its strength.

The Swiss franc tumbled against the euro and the dollar after Swiss National Bank chairman Phillip Hildebrand suggested the franc was still overvalued against the
single currency.
The Swiss ought to be pleased.

Reuters reports rumours of a forthcoming Berlusconi resignation. Hmm. Maybe.

Sure enough, Berlusconi has denied rumours. Such matters as "the main Italian index, the FTSE MIB, recover[ing]earlier losses after reports emerged that Mr Berlusconi may resign" are of little interest to dear old Silvio.

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