Italian Politicians Unhappy That Berlusconi Speech Did Not Break Into Bunga-Bunga Party On The Floor Of Parliament

Author:
Updated:
Original:

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:

"Either I am on Mars or he is on Mars," responded Pierluigi Bersani, leader of the opposition centre-left Democratic party, accusing Mr Berlusconi of failing to recognize the depth of Italy’s crisis. Pierferdinando Casini, head of the centrist UDC, said the government, beset by corruption scandals, had lost credibility.

Berlusconi says Italy will survive crisis [FT]

Also: Crisis, what crisis? Berlusconi holds fresh bunga bunga party as Italian economy teeters on the brink [Daily Mail] ("According to today's Italian media reports 20 women were seen entering Berlusconi's villa at Arcore last Sunday in a fleet of cars with guests not leaving until 2am. The women are said to have 'used more caution' than normal when entering the villa so as not to attract attention ...")

Related

A Running List Of Things That Do It For Silvio Berlusconi

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 prostitutes dressed as: 1. Nuns 2. Communists 3. President Obama One of the young women who attended Silvio Berlusconi's "bunga bunga" parties told a court on Friday that she dressed up as a burlesque version of U.S. President Barack Obama to entertain the former Italian prime minister. In testimony during a trial against the 75-year-old Berlusconi on charges of paying for sex with an underage prostitute, Marysthell Polanco said she had also dressed as prosecutor Ilda Boccassini. Boccassini, known as "Ilda the Red" because of her hair color and what Berlusconi says is her communist political sympathies, is one of the prosecutors in the ongoing trial. "I dressed up as Boccassini with a toga to make him laugh, and also as Obama," Polanco told the court...Previous witnesses who attended his parties painted a more sordid picture, including nudity, mimicked sex, and one described two women wearing nasty versions of nuns' habits performing a raunchy pole dance. Hope this helps. Berlusconi party girl says masqueraded as Obama [Reuters Earlier: Former Italian Prime Minister Loved A Good Costume Party

Italian, German Voters Get Their Turns To Ruin The Global Economy

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.