Italian PM Letta Wins Confidence Vote

Italian Prime Minister Enrico Letta won a confidence vote on the 2014 budget, reinforcing his coalition government a day before the Senate is expected to ban center-right leader Silvio Berlusconi from parliament over a tax fraud conviction.

Berlusconi’s Forza Italia party voted against the so-called Stability Law, which it described as “completely mistaken, with neither head nor tail”, formalizing its break with Letta after seven months in his left-right coalition.

The measure passed in the Senate shortly after midnight with a majority of 171 to 135, helped by the votes of rebel senators who broke away from Berlusconi earlier this month.

via CNBC

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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