Marketplace for Tuesday, November 8, 2011
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Italian Prime Minister Silvio Berlusconi has agreed to resign if the eurozone reforms are passed. We took a look at its high debt and interest. There have been a number of protests in the Middle East this year but the ones in wealthier countries haven't lasted as long. Here in the U.S., Occupy Wall Street protesters are preparing for the cold winter ahead. Harrisburg, Penn., is facing default. Charitable donations may lose their tax deductions. The GOP presidential candidates are set to have another debate -- another chance for them to squabble and gain some extra exposure.
It's not Italy's debtload that's the problem; it's the fact that the interest on that debt is going through the roof.
Markets and investors seem to be placing the blame of Italy's debt on Prime Minister Silvio Berlusconi, and are anticipating his resignation. But the country's major debt problems will still linger.
The Pennsylvania capital faces either bankruptcy or a state takeover of its finances after some bad bets on development projects. City residents are nervous.
Is it a GOP debate or an episode of "Jersey Shore"? It's getting hard to tell.