Italian PM Warns About Fragility of Government and Impact of a Collapse

Italian Prime Minister Enrico Letta on Sunday warned that the collapse of his government would undermine economic recovery and anger voters after local media reported center-right leader Silvio Berlusconi was poised to pull the plug on the executive.

Italian newspapers said Berlusconi, who was convicted of tax fraud earlier this month, would bring down the government in October if he is expelled from the Senate – a measure the court ruling foresees but which requires a parliamentary vote to enact.

Berlusconi’s People of Liberty (PDL) party and Letta’s Democratic Party (PD) joined forces in an awkward right-left coalition in April to break a stalemate that followed February’s inconclusive national election.

via CNBC

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.