My column today on the argument for breaking up the euro, failed to address one rather crucial question – how could it be done, without provoking economic chaos? Well, that’s what happens if you are restricted to 900 words.
Fortunately, there are clever people who have been thinking precisely about how to wriggle out of the euro. This is unsurprising, given that there is a considerable financial incentive to come up with the solution. Read more
In the next week or two we will find out whether Mitt Romney has the courage to seize the Republican nomination – as opposed to the systematic caution on which he has built his campaign so far. That test hinges on whether he will not only fight to win the Iowa caucus, which takes place on January 3, but on whether he is prepared to be seen fighting to win it. Read more
Welcome back to the FT’s live coverage of the eurozone crisis. Run by John Aglionby, Tom Burgis and Orla Ryan on the news desk in London, with contributions from correspondents around the world. All times are GMT.
20.00: So, Berlusconi has offered to resign – but only after parliament passes an austerity package. And then, he tells Italian television, he wants elections. We’re wrapping up the live blog now: see the new stories and analysis on FT.com for developments from Rome and elsewhere through the night.
19.46: In Rome Ferdinando Casini, head of the opposition party UDC, has told reporters he is “convinced that Berlusconi understands that the current economic and political situation does not allow for a long and extenuated election campaign“.
19.40: From Milan, the FT’s Rachel Sanderson reports that after meeting the president Berlusconi returned to his residence in Rome, Palazzo Grazioli, where he has been joined by Angelino Alfano, the young Neapolitan member of his party whom Berlusconi suggested earlier this year could be his successor. Berlusconi has also been joined by Niccolo’ Ghedini, his lawyer, and members of his coalition party the Northern League, according to Italian reporters at the scene. Read more