Berlusconi Scandal Could End Italian Coalition

Relations between the partners in Italy’s coalition government seemed close to breaking point on Thursday over whether to evict Silvio Berlusconi from parliament over a tax fraud conviction.

A row is raging between Berlusconi’s center-right People of Freedom (PDL) party and the center-left Democratic Party (PD) of Prime Minister Enrico Letta following the 76-year-old media mogul’s conviction by the supreme court early this month.

PDL sources said party secretary Angelino Alfano told Letta in a tense meeting on Wednesday night that the party would bring down the government if the PD voted in the Senate next month to throw Berlusconi out of parliament, something the center-left party has repeatedly said it will do.

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