Rachel Donadio

With Silvio Berlusconi officially submitting his resignation this weekend, the Mario Monti era begins in Italy. The interim prime minister’s first task will be to form a new government to enforce the country’s recently approved austerity package to get the country’s debt burden under control. But who is Italy’s new leader? And will his new […]

As the European sovereign debt crisis has spread from Greece to Italy, investors worst fears are coming true. “Contagion” is the word of the day, as Italy’s precarious situation threatens to destabilize the entire euro zone, possibly posing a systemic risk to the global economy. A central member of the euro zone, and Europe’s third […]

Embattled Greek Prime Minister George Papandreou will resign once plans for a new coalition government are finalized. Papandreou and his political rival, conservative leader Antonis Samaras, reached a deal on Sunday to form a unity government to  implement the unpopular austerity measures required by a bailout deal reached with European leaders. The new government is expected […]

Later today, Greek Prime Minister George Papandreou and Greece’s main opposition leader are expected to announce details about their plan to form a new unity government  and to name a new prime minister. Greece has rarely had unity governments. But fears that the crisis could infect other euro zone nations, like Italy and Spain, has pushed […]

Greece’s ongoing debt crisis and governmental instability has become the focal point of this week’s G-20 summit in Cannes, France. A day before a scheduled no-confidence vote in Greek Parliament that could lead to the government’s collapse, two ministers have publicly split with Prime Minister George Papandreo over his plan to hold a referendum on […]