This week, Italy’s financial woes have dominated international headlines. The European Union is concerned the country won’t be able to pay off its massive debt. The economic crisis is so acute it looks like the country’s prime minister, Silvio Berlusconi, may be stepping down.
In response to Italy’s financial woes, Prime Minister Silvio Berlusconi has promised to resign after parliament approves tough economic reforms. We get analysis from Harvard economist Alberto Alesina, who says the Eurozone can't afford an Italian bailout.