New Turmoil in Italy Adds to Europe’s Woes

The very modest hope that government actions in Italy might stabilize its economy probably has come to an end. Italian Prime Minister Mario Monti has announced his resignation, which leaves the national political situation in turmoil. That in turn raises questions about whether a new government will embrace austerity measures Monti put in place in an attempt to balance the nation’s budget. Politicians who believe that Monti has gone too far may take power. Former prime minister Silvio Berlusconi is among these. So, the uncertainty about the future of Europe gets one more unstable element.