Silvio Berlusconi

Now that the U.S.’s economic recovery is a sure thing, thanks to the hard work our sage and wise leaders put in a couple of hours after allowing the country to fly off the fiscal cliff, weary eyes turn to the other side of the Atlantic, where the Germans and Italians look to elect similarly sage and wise representatives. Well, the Germans, anyway. Read more »

Should you ever find yourself in a situation in which knowledge pertaining to the arousal triggers of the former Italian prime minister would come in handy, whether it’s bar trivia night or one of his bunga bunga parties, try and remember that Silvio likes (underage prostitutes dressed as):

1. Nuns

2. Communists

3. President Obama Read more »

A witness at the trial of Silvio Berlusconi has said strippers dressed as nuns performed for the former Italian prime minister at a party. Model Imane Fadil said she had been given 2,000 euros (£1,650; $2,614) by Mr Berlusconi the first time she attended a “bunga bunga” party…She alleges that the first night she went, she saw two young women in nun costumes stripping for the prime minister. One, she said, was Nicole Minetti, now a regional councillor for Berlusconi’s People of Freedom party in Milan. Ms Fadil claimed that Ms Minetti and the other woman dressed as a nun stayed the night at the villa, and that women who attended bunga bunga parties were paid more for sex. [BBC]

A group of students stormed Goldman Sachs’s central Milan offices on Friday ahead of worldwide protests against financial inequality planned for the weekend…Students managed to break into the hall of the Goldman Sachs building in the heart of Milan’s financial district, a few steps away from La Scala opera house, police said. The protests were quickly dispersed by police and security was restored to the elegant building, though red graffiti was daubed on its walls expressing anger at Italy’s Prime Minister Silvio Berlusconi and proclaiming “Give us money.” Protesters in Italy’s financial capital also hurled eggs at the headquarters of UniCredit, the country’s biggest bank. [Reuters via BI]

The Italian government reacted angrily Tuesday to the decision by the credit rating agency Standard & Poor’s to downgrade its debt, describing the move as out of touch with reality…Prime Minister Silvio Berlusconi’s office issued a statement early Tuesday noting that his government had a solid majority in Parliament. It said the government was preparing steps to lift growth and recently passed measures to control public finances through tax increases and spending cuts. “The evaluations of Standard & Poor’s seem dictated more by behind the scenes reports in newspapers than reality and seems influenced by political considerations,” the statement said. [NYT]

Not even her position as the world’s most powerful woman has prevented German Chancellor Angela Merkel from becoming the victim of playboy premier Silvio Berlusconi’s sexist language. The gaffe-prone tycoon has been overheard referring to the German leader as an “unfuckable lard-arse”, according to wiretaps reported by Italian newspapers. [Independent]

With the Italian 10-year bond trading almost 400bps wide of German rates, stocks down 1.5%, and new doubts about the EU’s ability to respond to the spreading credit crisis, Silvio Berlusconi took to the floor of parliament to defend his country’s credit and was criticized for not keeping it lively enough:

Commenting on the speech, a strong critic of Mr Berlusconi within the government, who asked not to be identified, acknowledged it was “boring” but said the prime minister was right to point to the lack of confidence in the eurozone as the root cause of Italy’s current problems on the markets.

Because of course Berlusconi said that Italy has “solid economic fundamentals,” which should reassure everyone, and that the problem is market misinterpretation rather than budget or debt problems. But not everyone agrees that Italy’s crisis is all in the minds of short sellers and CDS buyers: Read more »