The Euro crisis claimed it`s first scalp yesterday. The Greek Prime Minister finally stepped down. How this helps the Greek situation only time will reveal. For now it`s just another chapter in the Greek economic odyssey to which we have been spectators for a year or so now. Mr George Panpandreou`s exit will at least bring new fervour to finding some kind of solution to the problems the country faces. Hopefully. Some might even argue that it will restore some confidence in the country`s ability not only to implement the needed reforms but to convince the people of Greece of their merits.
In Italy, folks are putting money on Mr Berlusconi suffering the fate as his Greek counterpart. We will know by tonight if that is the case. Mr Berlusconi has unequivocally made it clear he is not ready to go. The backbenchers are of course rattling up the hatchet. For Berlusconi the financial mess in Italy is an irritant he could well do without. He has enough people calling for him to go based on his personal conducts and allegations against him. What with all the lawsuits and whatnot. The questions is do the Italian people trust and believe him to be the man to see them through these rough times? He sure believes he is. Is he alone in this view?