TOKYO (MNI) – International Monetary Fund Managing Director Christine Lagarde on Saturday warned that a worsening of the European debt crisis would hit Asia through trade and financial markets. Lagarde also told a news conference that the current resources of the fund are “adequate at the moment” but added that she could rely on major [...]

The Italian lower house passed the latest budget package, paving the way for the exit of Europe’s most entertaining leader, Silvio Berlusconi. Methinks we haven’t heard the last of him. Mario Monti is expected to replace the bunga-bunga king by the beginning of the week.