Poland’s borrowing costs fell below Italy’s for the first time in two months after Prime Minister Donald Tusk won re-election on budget cuts and Prime Minister Silvio Berlusconi lost parliamentary support.
Spain’s credit rating was cut for the third time in three years by Standard & Poor’s as slowing growth and rising defaults threaten banks and undermine efforts to contain Europe’s sovereign-debt crisis.
Protests against widening income disparity are planned across the Asia-Pacific region today as demonstrators organizing via social media from Tokyo to Sydney join London in the Occupy Wall Street movement.
Prime Minister Silvio Berlusconi won a parliamentary confidence vote today to avert the collapse of his government, giving him more time to try and steer Italy out of Europe’s debt crisis.
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