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Berlusconi Backs Down and Letta Wins Confidence Vote

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Italian Premier Enrico Letta has won a confidence vote after a last-minute U-turn by former PM Silvio Berlusconi.

Berlusconi had initially demanded that five ministers from his centre-right People of Freedom party (PDL) leave the government, prompting the vote.

But he backed down when it became clear that several of his senators would back the government.

Mr Letta had earlier said that if he were defeated in the vote, it might prove fatal for Italy.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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