Berlusconi Lead in Senate Could Gridlock Italy after Elections

The center-left alliance led by Pier Lugi Bersani appears to have won a clear majority in the Italian lower house of parliament, the Chamber of Deputies, which would enable it to form a government. But it may fail to clinch a majority in the Senate upper house, according to initial polls taken after voting stations closed at 3 p.m. CET on Monday.

One poll for Sky television showed Bersani at 35-37 percent in the lower house, well ahead of Silvio Berlusconi’s center-right at 29-31 percent, while comedian Beppe Grillo’s anti-establishment movement was in third place. Bersani had pledged to continue the budget consolidation policies of Mario Monti, whose centrist alliance scored just 8 to 10 percent, according to the poll.

via Spiegel

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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