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Euro Debt Crisis Looms Again, As Italians Defy EU Austerity Demands

Euro Debt Crisis Looms Again, As Italians Defy EU Austerity Demands

The eurozone’s debt crisis strategy was in chaos on Monday night after anti-austerity parties appeared on track to win a majority of seats in the Italian parliament, vastly complicating efforts to forge a government able to carry through EU-imposed reforms.

THE DAILY TELEGRAPH
By Ambrose Evans-Pritchard
8:33PM GMT 25 Feb 2013

In an earthquake result, the Five Star protest movement of comedian Beppe Grillo looked likely to emerge as the biggest single party in the lower house. The scourge of bankers and corrupt elites, Mr Grillo has campaigned for a return to the lira and a restructuring of Italy’s €1.9 trillion (£1.64 trillion) public debt.

The conservative bloc of ex-premier Silvio Berlusconi looked poised to win the senate, coming back from the political grave with vows to rip up the EU’s austerity plans and push through tax cuts to pull Italy out of deep slump.

Read more: http://www.telegraph.co.uk/finance/financialcrisis/9893573/E...



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