Mario Monti Defends Berlusconi

Despite rumors that Italy’s Silvio Berlusconi could “bring down” the government if he loses his seat in parliament next week, the country’s former prime minister Mario Monti defended the politician on Friday.

“I feel that in recent months and years, although [he was] in a very difficult personal situation, Berlusconi has shown a remarkable sense of responsibility,” Monti told CNBC at the Ambrosetti economic forum in Lake Como.

“I’m not convinced at all that, should the process in the Senate lead to Berlusconi having to leave the Senate, it would trigger the abandonment of the government by the PDL party (Berlusconi’s People of Liberty party).”

An announcement by an ally of Berlusconi on Thursday suggested the contrary, however. Daniela Santanche said the former leader had prepared a video message that could announce a decision to bring down Italian Prime Minister Enrico Letta’s coalition government – if the Italian senate voted on Monday to strip him of his parliamentary seat after he received a four-year jail sentence for tax fraud in August.

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