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Italy's Berlusconi calls special cabinet meeting

Italy's Berlusconi calls special cabinet meeting (by Polya Lesova)

LONDON (MarketWatch) -- Italian Prime Minister Silvio Berlusconi has called a special cabinet meeting for Monday evening after he came under pressure from other euro-zone leaders at a weekend summit in Brussels to do more to boost growth and reduce Italy's debt burden. Berlusconi met Sunday with the French president and the German chancellor, who made it clear to him that Italy must fulfil its responsibilities. "With the bloc struggling to contain the advance of the sovereign debt crisis, Italy is without doubt the elephant in the room, and should conditions worsen there, then all bets would be clearly off," strategists at Mediobanca wrote in a note. "There were calls for a greater effort from the Berlusconi government in striving to restore investor confidence in the Italian economy."

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