Cyprus’s decision to force losses on bank deposits doesn’t set a precedent for the rest of the euro region, EU president Herman Van Rompuy said in an interview with De Zondag.

The incredible rise of Beppe Grillo’s Five-Star Movement in Italy has left the markets in turmoil.

President Michael D Higgins will make an official visit to Italy next week.

With Mario Monti bowing out after taking some tough austerity measures, Italy is braced for a tough election battle as Silvio Berlusconi re-enters ring, reports John Lloyd

MARIO Monti, who intends to resign after just over a year as Italy’s prime minister, restored international credibility to his country and dragged it back from the brink of financial collapse.

Mario Monti, the Italian prime minister announced on Saturday that he would resign once the 2013 budget is approved, potentially bringing forward an election and fuelling speculation that he might run.

Italy skipper Gianluigi Buffon has praised controversial striker Mario Balotelli for his willingness to work for the Italian cause at Euro 2012.

Italy coach Cesare Prandelli has praised Mario Balotelli’s attitude ahead of tomorrow’s Euro 2012 final with Spain.

Buoyed by a strong showing against the world champions there’s a new mood of optimism in the Italian camp, boosted by the post-match words of their president Giorgio Napolitano who compared the spirit of the nation to the spirit of the team.

Former Italian prime minister Silvio Berlusconi appears to be angling for the role of Italian president – with enhanced powers.

The fallout from the failed hostage rescue bid in Nigeria was continuing today after William Hague insisted it had been impossible to inform the Italian authorities in advance.

Italian president Giorgio Napolitano led a chorus of condemnation of Britain’s failure to inform the Italian government before launching a botched rescue mission with Nigerian forces that led to the deaths of British and Italian hostages held by a militant Islamist group.

EXTRAVAGANT firework displays lit up the skies from Sydney to New York in a global New Year’s party as people around the world set aside their worries to welcome 2012.

WITH the eurozone close to the cliff’s edge, elected politicians are giving way to the technocrats, or else being forced to kowtow to them.

Italian borrowing costs are well below dangerous levels as markets express confidence in the prospect that leading economist Mario Monti will form a new government without politicians.

Economist Mario Monti has accepted the monumental task of trying to form a new government that can rescue Italy from financial ruin – expressing confidence that the nation can beat the crisis if its people pull together.

Italy’s president today began sounding out parliamentary and party leaders on who should lead the government and help save the country from financial disaster following the resignation of Silvio Berlusconi.

The Italian President has announced that his country will adopt economic reforms promised to the EU "within days" and Prime Minister Silvio Berlusconi will then resign.

Italian Premier Silvio Berlusconi has promised to resign after parliament passes economic reforms, Italy’s president said tonight.

Italian premier Silvio Berlusconi lost his majority in parliament today intensifying the pressure for him to resign and help calm markets worried by the European debt crisis.

THE Italian cabinet met in emergency session last night under huge pressure after the cost of debt rose to levels similar to those that forced Ireland and Portugal to look for a bailout.

PRIME Minister Silvio Berlusconi is bracing for a confidence vote in Italy’s parliament this week that will determine his political future amid a rebellion by some allies and growing discontent with his leadership at a time of financial crisis.

A GROUP of Italian scientists went on trial yesterday for failing to predict an earthquake that killed more than 300 people in central Italy in 2009 despite signs of increased seismic activity in the area.

European Central Bank chief Jean-Claude Trichet told Italy today it was “essential” to promptly implement its deficit-reducing measures if it wants to preserve its credit worthiness.

Italian Premier Silvio Berlusconi pleaded with MPs for his political life today on the eve of crucial confidence votes.

Rivers of mud unleashed by heavy rains overnight flooded parts of the Sicilian city of Messina, killing at least 20 people, sweeping away cars and collapsing buildings.

Rivers of mud unleashed by heavy rains overnight flooded parts of the Sicilian city of Messina, killing at least 20 people, sweeping away cars and collapsing buildings.

PRESIDENT Barack Obama said yesterday the nation had lost “the greatest United States senator of our time” as world leaders joined inlionising Ted Kennedy.

Greece has finally taken possession of a chunk of the Elgin Marbles, and now holds renewed hopes of regaining the rest.

CONFESSION being good for the soul, I admit to being slightly off the mark last week. True, I predicted a no to Lisbon, predicted the usual suspects would call the Irish thickos and ungrateful illegitimates, and even forecast the Taoiseach would start talking about the need for “a period of reflection”.

Conservative leader Silvio Berlusconi has formed Italy’s 62nd post-war government, his third stint as the country’s prime minister.

Embattled Italian prime minister Romano Prodi has tonight arrived at the presidential Palace to hand in his resignation, after losing a confidence vote.

Two days after stepping down as prime minister, Romano Prodi appeared closer to returning to office this afternoon, as Italy’s president met with key politicians to discuss forming a new government.

Italy’s caretaker premier Romano Prodi called on his coalition allies to give him airtight support for another government.

Italy’s caretaker prime minister Romano Prodi summoned his allies to a late night meeting tonight to see if they could commit themselves to backing him convincingly enough to possibly put together another government.

Italian Premier Romano Prodi resigned last night after his centre-left government embarrassingly lost a Senate vote on foreign policy, including the country’s military mission in Afghanistan.

Croatian Prime Minister Ivo Sanader has criticised the European Union’s stance over his country’s diplomatic squabble with Italy concerning World War II victims.

Former Communist Giorgio Napolitano was sworn in as Italy’s new president today, finally opening the way for centre-left leader Romano Prodi to form a government.

Giorgio Napolitano, a former Communist who was elected president last week, was to be sworn in today, finally opening the way for centre-left leader Romano Prodi to form a new Italian government.

THE Italian Parliament elected an 80-year-old former Communist to be president yesterday, paving the way for a government headed by centre-left leader Romano Prodi to be formed within days.

The Italian Parliament today elected the centre-left candidate – an 80-year-old former Communist – as the country’s next president, paving the way for a Romano Prodi government, an unofficial count indicated.

Politicians today tried for a fourth time to elect Italy’s next president, with the numbers heading into the vote appearing to favour Giorgio Napolitano.

The Italian parliament today failed to elect the country’s new president in a second round of voting, unofficial tallies indicated, further delaying centre-left leader Romano Prodi’s bid to get a mandate to form a government.

The Italian parliament today resumed voting to elect the country’s new president, but no winner was expected to emerge from the second round of voting as the two political coalitions still had not agreed on a candidate.