The Last Word | February 25, 2013
>>> it is time now, it is time for the favorite part of the show, the one where i get two minutes to explain, whatever i want, even if the producers think it will be bad for ratings. but how bad can this one be for ratings? it is about this guy. [ speaking in a foreign language ]
>> the bunga/bunga, who is that? and why do you need to know about him today? well, let's get the clock. okay, that is berlusconi, the prime minister of italy , the guy who made the words a catch phrase, the guy thrown out of office because the banks and global financial markets said they would stop giving italy any money if they didn't kick him out of office. that is rare, he is really unliked. but his successor worked well with europe , the problem is that voters didn't like him that much. those pesky voters. over the last 24 hours , italy has had an election, and the winner is nobody. monte's coalition didn't win. berlusconi is in trial, facing sex with a minor, there is a third major party , kind of a protest led by, i'm not kidding, run by a comedian blogger, who has an anti- europe agenda, he wants every kid to get a tablet. he did really well. it has to be approved by both the house and senate. the parties hate each other, so they probably can't join together either. that means italy will probably have to hold another election inmonths. so why should you care? well, remember the whole europe crisis thing we were really worried about in 2011 and 2012 ? well, it is calming down. but the key troubled places like italy , if they are ungovernable, that is the kind of thing that can make it flare up again, and if it does that can hurt our economy really bad, at a time when we're dealing with the sequester and plenty of other issues. they wrote, this is the perspective, they didn't do the right thing, instead, gave surprising support to politicians who reject austerity, and in some cases the euro, this could be a major problem if it proves contagious. done.