Silvio Berlusconi’s long, drawn-out resignation reminds me of Saturday Night Live‘s running joke that Francisco Franco was “still dead.”
Every day, we read that Berlusconi is still resigning.
He didn’t cause the euro crisis, and his resignation won’t end it.
Italy and Greece can’t have the same currency as Germany. They have to have their own currencies that float against other currencies and the ability to print money. They don’t need less control over their fiscal and monetary policy, they need more.
It is interesting that as the current reigning champion buffoon in the world, Silvio Berlusconi, gets pushed off-stage, Herman Cain rises up to take his place. Those are tough Gucci loafers to fill, but I suspect Cain is more than up to the task.
If he falters, we still have Donald Trump.
Financial writer James Stewart began his NYT column today: “It finally dawned on me this week that the value of my retirement account might depend on Silvio Berlusconi.”
I wonder if it’s dawned on President Obama that his re-election might depend on Silvio Berlusconi.