Italian bond spreads reach euro-era high / Deliver reforms or quit, Berlusconi told

Article reported that the premium Italy paid to borrow over Germany rose to a fresh euro-era high on the 1 November 2011, leaping over a critical level that has previously exacerbated crises in Portugal and Ireland.

Italian Prime Minister Silvio Berlusconi was coming under concerted pressure to rapidly deliver promised structural reforms or resign and make way for a government of national unity before Italy’s debt financing costs reached unsustainable levels.

BBC News, 3.11.11: Call for Berlusconi to step down as Italy worries grow http://www.bbc.co.uk/news/world-europe-15578613

ESO: Background information: Greece calls referendum on EU bail-out / Greeks hostile as EU ‘task force’ starts work / EU leaders battle to save Greece deal http://www.europeansources.info/record/greece-calls-referendum-on-eu-bail-out-greeks-hostile-as-eu-task-force-starts-work-eu-leaders-battle-to-save-greece-deal/

ESO: Background information: Cautious welcome for Berlusconi reform plans http://www.europeansources.info/record/cautious-welcome-for-berlusconi-reform-plans/

Corriere della Sera, 31.10.11: Berlusconi denies he is reason for attack on Italy http://www.corriere.it/english/11_ottobre_31/berlusconi-attack_375ca6f8-04a9-11e1-89f9-a7d4dc298cd1.shtml

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