Italian Prime Minister Silvio Berlusconi resigns. Italy is struggling with debt. And Berlusconi with his flamboyant, over the top gaffes had become the least favourite of the Italians. Earlier this week the Greek Prime Minister George Papandreou had relinquished to make for the new coalition government headed by the a technocratic economist, Lucas Papademos. We all know that Greece is under a huge debt load.
At the end of this week, Spain's ruling Socialist party is likely to be routed in an election. Some authors are comparing this domino effect in the European Union to the Arab uprisings in the Middle East which ousted leaders and was inflamed by revolts. But as for now, Europe is indeed in crisis, and the revolts do not seem a immediately useful here.
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