Only national unity can save Italy

The Milan Stock Exchange's main index plunged by more than seven percent on Tuesday, with investors rushing to sell off Italian government bonds. The financial markets apparently remain unimpressed with the recent spending cuts promised by the Italian government. The political forces must finally take responsible and coordinated action, the business paper Il Sole 24 Ore urges: "It would be a sign that a turning point has been reached if the prime minister were to take a step towards the opposition. Only willingness to work together can convince the public that the government is still in a position to face the common challenge. ... The discussion about a new balance of power can only begin once each party has fulfilled its duties regarding Europe - starting with a worn-out prime minister whose resignation one can legitimately demand. But the opposition is also shining through its absence and short-sightedness. For things to change for the better it is just as vital that the government appear before parliament as that the opposition give its approval for the austerity measures."

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