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Berlusconi's Main Ally Tells Him to Quit
Italian Prime Minister Silvio Berlusconi's chances of remaining in office appeared to wane on Tuesday after his main political ally called on him to resign. "We asked the prime minister to stand down," Umberto Bossi, leader of the Northern League which governs in a coalition with Berlusconi's People of Freedom (PDL) party, told reporters outside parliament in Rome. The political uncertainty pushed yields on Italy's 10-year benchmark bonds as high as 6.74 percent on Tuesday, close to the critical 7 percent level at which economists say borrowing costs are unsustainable. Italian yields are close to the point at which ... (full story)