Italy’s unelected Prime Minister, Mario Monti, tells CNN’s Christiane Amanpour that he will not run in the upcoming elections. “I don't need to, because the president of the republic appointed me senator for life,” Monti said Tuesday. “And I think it's important that the full political game resumes in Italy, hopefully with a higher degree of responsibility and of maturity. We are helping that by being part of the European Union. Obviously, I will facilitate as much as I can the evolution.”

 ROME — The conservative party of Italy’s former prime minister, Silvio Berlusconi, announced a series of housecleaning measures on Tuesday following a financing scandal that prompted the resignation of the party’s representative in the important Lazio region on Monday.

NEW YORK, Sept. 24, 2012 /PRNewswire/ -- VOGA Italia, the purveyor of meticulously crafted, eye-catching wines imported from Italy, announces the addition of Dolce Rosso to its extensive collection. The newly-released sweet red is at the forefront of today's latest emerging wine trends, offering consumers a sweeter, more approachable red wine that appeals to both connoisseurs and exploratory wine drinkers alike. 

The name All’Onda refers to the style of risotto — “of the waves,” meaning soupy — served in Venice and at this restaurant, scheduled to open in November with Chris Jaeckle, the former chef de cuisine at Ai Fiori, in the kitchen. “I like the idea of Venice,” Mr. Jaeckle said. “It expands the horizon because there are so many global influences in Venice, with spices, even Indian.”

If life in the eurozone's economically embattled periphery was not bad enough, now the coffee culture emblematic of southern Europe is under siege. Italians are having to cut back on their cappuccinos and espressos and Spaniards are dropping their cortados, contributing to a sharp drop in wholesale coffee prices.

Americans lose their minds over anything Tuscan. A Tuscan lust was ignited around the time of Frances Mayes’s 1996 bestseller "Under the Tuscan Sun", and it burns unabated. Adding the word “Tuscan” (or maybe a variation such as Toscana or Florentine) to any product — Tuscan driveway pavers, Tuscan bathroom fixtures, Tuscan chicken sandwiches at Subway — remains as good as printing money.

As shorthand for rampant political scandal, the phrase "bunga bunga" has achieved all the resonance of "Profumo". London even has a nightclub in awestruck tribute to the peculiar excesses of former Italian premier Silvio Berlusconi's career. Fast-forward to summer 2012, and Italy's economy is in such a mess it can't even get into the recession the rest of Europe is trying to exit; Flavio Briatore has wisely announced plans to sell his infamous Billionaire nightclub; and Berlusconi has let it be known that he feels the time is right for a comeback.

For investors, it is an age-old question whether to bet on the jockey or the horse.  Do you bet on the CEO with a great history of success or do you bet on the underlying business?