Berlusconi's Resignation Greeted with Cheering says Pan American Metals of Miami

Top Quote Berlusconi's resignation calms fears in the euro zone and boosts gold prices. End Quote
  • (1888PressRelease) November 14, 2011 - MIAMI, FL - Saturday saw the resignation, finally, of Silvio Berlusconi. News of his departure was greeted with cheering and celebration by people in the streets and hostility towards him was such that he was forced to leave by a private entrance to avoid the crowds. Judging by the reported reaction to his departure it is fair to assume that Berlusconi was not a popular leader. Italy's debt crisis has been unique insofar as, being the third largest economy in Europe, Italy is actually too big for a bailout while, at the same time, being too big to be allowed to fail. Italy will now have an emergency government with the unenviable task of steering the country through this mess.

    News of Berlusconi's pending resignation was enough to calm the market and restore confidence in the euro. Yet there is no easy solution to Italy's problems as her debt remains untenable. At the time of writing, President Giorgio Napolitano is in talks aimed at establishing an emergency government, most likely headed by Mario Monti. Hope for the future hinges on Monti's ability to rescue Italy from a debt load that is 120% of its GDP.

    "So far, news of Berlusconi's resignation has been helpful both to the euro and to gold," says Bill Hionas of Pan American Metals of Miami. "The dollar has been the safe haven of choice for many investors while uncertainty reigned. However, a continuing crisis in Europe, with fear of contagion, should be bullish for gold in the medium to long term as investors see the tangibility of physical bullion as the most reliable safe haven for wealth protection."

    Investors wishing to increase their holdings in precious metals bullion should contact the investment team at Pan American Metals of Miami for further information.

    About us:

    Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.


    Press Contact

    Debbie Bailey
    Executive Administrator
    Pan American Metals of Miami, LLC
    Email: dbailey ( @ ) investpanam dot com

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