Center-right leader Silvio Berlusconi pulled his ministers out of the cabinet on Saturday, effectively bringing down the government of Prime Minister Enrico Letta and leaving the eurozone`s third-largest economy in chaos.
On Thursday, the courts finally caught up with Berlusconi, handing down a verdict which shook the uneasy coalition in which his centre-right rules with the centre-left.
The former prime minister has kept control of his media empire, laying himself open to accusations of a conflict between his political and business interests and leaving him vulnerable to numerous corruption investigations into him and his companies
Ford Motor Co was "shocked" by a series of Indian poster advertisements that included one showing women tied up in the trunk of a Ford driven by ex-Italian Prime Minister Silvio Berlusconi
The Budget is done and dusted, and 48 hours later we‘re back to tackling global markets, which don't look too great, says Udayan Mukherjee, Managing Editor, CNBC-TV18.
Italy's electoral earthquake seems to have condemned the country to the thing it needs least - a short-term government and new elections in as little as six months or a year.
Investors are awaiting the outcome a wide open Italian election that could trigger a sell-off in stocks and bonds and renew concerns about the euro if the polls bring an unstable government.
Minutes from Federal Reserve's meeting on Wednesday indicate that a number of senior officials remain concerned about the central bank's bond buying program. Sarah Hewin of Standard Chartered says that the quantitative easing (QE) by the central bank will continue at the current pace until the year ends.
Former Italian prime minister Silvio Berlusconi slammed a panel of three "feminist and communist" female judges for ruling that he owed his estranged wife 200,000 euros per day as part of a divorce settlement.
Former Italian Prime Minister Silvio Berlusconi has agreed to pay his estranged wife Veronica Lario 100,000 euros a day as part of a divorce settlement, the daily Corriere della Sera said on Friday.
One of the young women who attended Silvio Berlusconi's "bunga bunga" parties told a court on Friday that she dressed up as a burlesque version of US President Barack Obama to entertain the former Italian prime minister.
Prime Minister Mario Monti urged China on Saturday to step up investment in Italy and tried to reassure Beijing that the euro zone debt crisis was close to resolution and tough economic reforms passed by his government were working.
Supporters of the India growth story would like to treat the year 2011 as a bad dream. And not without a good reason!
Seven things that would have been better unsaid...
Napoleon dreamed of it, de Gaulle fought for it, but Nicolas Sarkozy may have achieved it — a Europe of Nations with France in the cockpit and Britain on the sidelines.
Silvio Berlusconi resigned on Saturday to make way for an emergency government Italians hope will save them from financial ruin as thousands of jeering protesters shouted "clown, clown" and toasted the end of a scandal-plagued era.
Italy's parliament was set to approve austerity measures on Saturday, triggering the formation of an emergency government to replace that of Prime Minister Silvio Berlusconi, and meeting European Union demands to avert a euro zone meltdown.
The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.
Silvio Berlusconi dominated Italy for 17 years with a unique mix of political talent and brazen behavior but in the end it was market pressure from abroad that brought him down.
A key vote in Italy's Chamber of Deputies on Tuesday indicated Prime Minister Silvio Berlusconi has lost his parliamentary majority, piling further pressure on him to resign.
Just when Greece was boiling too hot, the investor focus has now gone ahead and shifted to Italy. However, today being the d-day, Greece is likely to a new Prime Minister and Italy may have Silvio Berlusconi facing a proxy confidence vote, says Gustavo Bagattini of RBC Capital Markets.
Italy criticised Standard & Poor's today for downgrading its credit rating, saying the decision was out of touch with reality at a time when the government was working to boost growth and reduce its debts.
US stocks rose 2% on Wednesday amid optimism over talks to contain the euro zone debt crisis.
Italian Prime Minister Silvio Berlusconi on Wednesday won a confidence vote on a much-altered austerity plan aimed at stemming a debt crisis engulfing the euro zone's third largest economy.
Italian Economy Minister Giulio Tremonti met Chinese officials last week, a Treasury spokesman said on Tuesday after the Financial Times reported that Rome had asked China to buy "significant" quantities of its debt.