A new chance for Italy

After the announced resignation of Berlusconi Italy will have a new opportunity to extricate itself from the debt crisis, writes the business paper Les Echos: "The resignation of Berluscon is a first step. The second is the hasty presentation of a serious and credible plan for restructuring the country. Of course the medicine will be just as bitter as in other European countries. But as opposed to Greece, Italy still has a few trump cards up its sleeve. Fifty-five percent of its public debt is owed to local banks and private individuals, and the country still has strong industrial companies and a network of medium-sized businesses. ... After Berlusconi Italy now needs to be governed by a stricter team of politicians, something Europe also badly needs."

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