Berlusconi Ouster Won't Avert Default, Euro Collapse

Ousting Silvio Berlusconi won't make Italy's fiscal mess any easier-with or without him, its debt is impossible, and Italy is headed for default. Italy's problems are fundamentally different than some other troubled countries, such as Greece. Like others its social benefits are too generous but substantially curbing those won't bring its books into balance. It is simply too late.