Italian Prime Minister Silvio Berlusconi, the man who's kept his job despite constant sex scandals, sex trials, and other criminal charges over the last couple of years, appears to have finally been ousted by the only people who matter in this world: creditors.
The Italian president's office says that Berlusconi has agreed to resign after (if?) parliament passes the austerity package demanded by the European Union, whose two top heads of state — Nicolas Sarkozy and Angela Merkel — really cannot stand Berlusconi.
This followed a budget vote today which Berlusconi won, but which indicated that he no longer had the support of a majority. The political problems have pushed Italy's 10-year bond yields close to 7%, the threshold at which a bailout might be necessary.
The euro is up on this news, as are stocks. The world is rich again, for another three seconds or so until the next thing happens!
[Photos via AP]