European Debt Crisis as Berlusconi’s Last Stand The European debt crisis appeared to claim its most prominent victim on Tuesday when Prime Minister Silvio Berlusconi of Italy, cornered by world markets and humiliated by a parliamentary setback, pledged to resign after Italy’s Parliament passes austerity measures demanded by the European Union. http://www.nytimes.com/2011/11/09/world/europe/support-for-berlusconi-ebbs-before-crucial-vote.html