Amid Financial Crisis, Pressure Mounts For Italy's Berlusconi To Step Down

04:56

November 01, 2011

Italian Prime Minister Silvio Berlusconi, speaking at a party rally, is facing increasing pressure to step down in the wake of the European financial crisis. (AP)

Pressure is growing on Italian Prime Minister Silvio Berlusconi to cut government spending and speed up austerity measures amid feeble growth.

One of the country's leading business lights, Ferrari CEO Luca Cordero di Montezemolo, has urged the prime minister to resign, so that the country can deal with its debts, which total about 120% of GDP.

The BBC's Matthew Price reports from Milan.

This segment aired on November 1, 2011.