Monti Reaches Deal on Italian Labor Laws
Prime Minister Mario Monti has reached an agreement with the main political parties in Italy to back his plan to relax rules on firing workers.
Vatican Embarrassed by Account Closure
The Vatican suffered a blow to its efforts to have its bank included in the European "white list" of states that comply with international standards against tax fraud and money laundering on Monday when JP Morgan Chase shut the account of the Vatican bank at an Italian branch.
Italy to Tax Vatican Properties
The Vatican could lose its tax-exempt status for commercial properties and those that have a partly commercial purpose—and be subject to a massive tax bill approaching a billion dollars a year.
Italian Police Seize $6 Trillion of Fake U.S. Treasury Bonds
Italian police said on Friday announced they had seized about $6 trillion worth of fake U.S. Treasury bonds, worth roughly a third of the entire U.S. national debt that, if released into the worldwide financial system, could potentially have caused serious disruptions.
Berlusconi Could Fall as Italy Teeters
Silvio Berlusconi, who has resisted calls to step down as prime minister of Italy, may be on the way out regardless, if former party loyalists continue to rebel.
PIMCO's El Erian: EU Fumbling Greek Debt Crisis
Mohammed El-Erian, head of PIMCO, the largest bond fund in the world, said in a Sunday interview that the European Union (EU) must change its approach to the Greek debt crisis or risk spending billions for nothing.