Forex News – Italian PM Monti’s resignation weighs on euro
Posted on December 10, 2012 at 8:48 am GMTEuro tumbled lower against the dollar in early Monday trading amid political concerns surrounding Italy which raised concerns for early elections. Italian Prime Minister Mario Monti announced over the weekend his intention to resign as soon as Italy’s parliament passed a pending budget bill later this month. Italy is Europe’s third largest economy so Monti’s surprise resignation is setting the stage for turmoil in the heavily indebted nation. Meanwhile, former Prime Minister Silvio Berlusconi made his statement on Saturday that [..]