The king’s pointless speech

Headlining with, "Berlusconi: the country is solid," La Stampa reports on the government leader’s eagerly awaited speech to parliament, which was supposed to reassure the markets about the seriousness of the 48-billion austerity package approved in July. Judged to be too evasive and even tedious, Il Cavaliere failed to convince investors, who are increasingly worried that Italy’s public debt is out of control. ForLa Stampa, it was "a disappointment, and a well-worn scenario. Those who were waiting for a response to the worrying changes on the markets, which are happening every day, certainly did not find one." In the same newspaper, columist Massimo Gramellini presents Berlusconi’s political obituary, remarking that the head of government is an "indigent Cavaliere," who has lost the power to "seduce or outrage, but is simply dull. What became of his charisma?" He continues: "Berlusconi would have been better off saying nothing. Hollow speeches are worse than silence" — an opinion that is shared by economist Tito Boeri in La Repubblica. Adopting an even stronger tone, Corriere della Seraargues that "the government has run out of ideas" and is sending “the worst possible message” to the dreaded "speculators."