Europe: the pain continues.

So, Berlusconi has resigned.

http://www.telegraph.co.uk/news/worldnews/silvio-berlusconi/8886479/Silvio-Berlusconi-finally-resigns-as-Italys-prime-minister-to-cheers-from-supporters-and-jeers-from-foes.html

http://www.bbc.co.uk/news/world-europe-15708729

Apparently the EFSF had to buy its own bonds to achieve the complete sale of a 10 year 3 billion eurobond in support of Ireland.  This is very worrying, it indicates there is no appetite for the bonds from some of the existing and potential purchasers of  sovereign debt bonds.  See:

http://www.telegraph.co.uk/finance/financialcrisis/8886380/Eurozone-bail-out-fund-has-to-resort-to-buying-its-own-debt.html

May I draw your attention to some interesting articles:

http://www.telegraph.co.uk/news/worldnews/europe/8886150/Theres-nothing-new-about-this-European-folly.html


http://www.telegraph.co.uk/news/politics/david-cameron/8886482/As-the-eurozone-crisis-deepens-what-are-David-Camerons-options.html

http://www.telegraph.co.uk/finance/comment/liamhalligan/8886350/Germany-must-decide-if-it-wants-the-eurozone-to-survive-or-perish.html

http://www.telegraph.co.uk/finance/comment/tom-stevenson/8885588/Tom-Stevenson-bond-market-vigilantes-turn-on-Italy.html

http://www.telegraph.co.uk/finance/economics/8886378/Bank-to-downgrade-UK-growth.html

http://conservativehome.blogs.com/thetorydiary/2011/11/has-cameron-promised-merkel-that-britain-will-only-seek-modest-renegotiations-of-eu-treaties.html

http://www.spiegel.de/international/europe/0,1518,797399,00.html Worst case scenarios.

http://www.telegraph.co.uk/news/worldnews/europe/eu/8886508/The-week-the-euro-went-up-in-flames.html