Whatever the outcome is in Athens, with the Greeks looking everywhere for a prime minister, Rome is fast becoming the new focal point, not only in capital markets but in the Eurozone’s entire political arena.

Italian Prime Minister Silvio Berlusconi is playing almost the same game as his Greek counterpart George Papandreou, in offering his resignation but, as he clarified after, he has made sure that Italians are well under the spell of his new austerity measures. This, however, can...

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