Enrico Letta is Nominated for Italian Prime Minister

Italy appeared to be on the verge of resolving its weeks-long political stalemate after the country’s president asked a senior figure in the centre-left Democratic party (PD) to form a grand coalition government including Silvio Berlusconi’s centre-right People of Freedom (PdL) party.

Enrico Letta, deputy leader of the PD, said he had accepted a mandate to become Italy’s prime minister-designate with “a sense of deep responsibility” given the “very difficult, fragile, unprecedented” situation of the country.

“The country is waiting for a government. Everyone knows this is situation that cannot go on like this,” he said, adding that politics in Italy had “lost all credibility”.

Letta said he would try to form “a government of service to the country”.

He was speaking after meeting Giorgio Napolitano, who was re-elected head of state at the weekend. The 87-year-old said he had chosen Letta because he was from a younger generation but already had significant experience in parliament.

via The Guardian

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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