Berlusconi struggles for political survival

Italy's Prime Minister Silvio Berlusconi is struggling to hold on to power and prove he can implement austerity measures pledged to European Union allies as reports of his imminent resignation sent Italian stocks surging.

News agency Ansa said Berlusconi denied a report by Giuliano Ferrara, his former spokesman and editor of newspaper Il Foglio, who wrote today that the premier would step down “within hours.”

Berlusconi will likely resign next week in return ...