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tdp2664 InvestorPlace Two European leaders have finally "fallen on their swords" in surrender to financial realities, making way for some new, serious-minded reformist leaders. First, Greek Prime Minister George Papandreou agreed to step down, in conjunction with a new coalition government headed by Lucas Papademos, a former vice president of the European Central Bank (ECB) and an MIT-trained economist. Then, Italy's Prime Minister Silvio Berlusconi resigned on Saturday. On Sunday, Italy's President Giorgio Napolitano appointed economist Mario Monti as Italy's prime minister. It's now up to the Italian Parliament to act. As a result of this high-level game of "chicken," the yield on Italian bonds soared past 7% last Wednesday, before retreating later in the week. But it climbed back above that alarming benchmark on Tuesday.
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