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Italy's bond yields passed 7% Wednesday morning, breaching a psychological point at which markets consider countries at risk of being unable to fund themselves.
The dramatic rise in 10-year bond yields comes the day after Italy's flamboyant Prime Minister Silvio Berlusconi said he would resign after the country's budget is passed. The 75-year old Berlusconi has been a dominant force since forming the Forza Italia party in 1994, and his pending departure marks the end of an era for Italian politics.
http://business.blogs.cnn.com/2011/11/09/italys-economic-crisis-kicks-up-as-berlusconi-bows-out/?hpt=hp_c1
