Monti says markets must recognize Italian reforms (Reuters)

German Chancellor Angela Merkel praised Italy's new government on Wednesday for the speed with which it has launched reforms, prompting Prime Minister Mario Monti to say it was important for markets also ...

In spite of all the headlines and chatter the real winner in the latest of 19 EU summits was none other than German Chancellor Angela Merkel. First lets take a look at numerous headlines that got the story wrong. Merkel Big Loser

BERLIN — Fears are growing in Berlin that Italy’s former prime minister Silvio Berlusconi may return to centre-stage after this weekend’s election, imperilling Rome’s reform drive and the euro zone’s tentative emergence from its debt crisis. It is unclear whether 76-year-old Berlusconi, a scandal-ridden media tycoon and four times prime minister, will win enough support to wield influence, but even the possibility of a comeback is a nightmare for German Chancellor Angela Merkel.

LONDON – Prime Minister Mario Monti helped stabilize Italy at the most perilous moment of its financial crisis, and he gets credit from many for starting the country on a long road of necessary structural reforms.  

Merkel Hardens Position The EU summit is a day away and pre-summit bickering is so intense that it will be difficult if not impossible to get any major agreements. Two days ago, in a speech in German parliament, Bloomberg reported Merkel Hardens Resistance to Euro-Area Debt Sharing

The G-20 summit is over. As expected, the two-day summit produced nothing but bickering. On day one, European Commission president Jose Barroso kicked things off by sniping at a Canadian reporter and blaming the US for Europe's problems. UK Independent Party (UKIP) leader Nigel Farage responded by calling Barroso a "delusional idiot".