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Berlusconi threatens Italy's government

Silvio Berlusconi has threatened to bring down Italy's government, of which his PDL party is a member, if he is expelled from the country's Senate following his conviction for fraud.

While the ruling foresees such an exit for Berlusconi, a parliamentary vote is required.

The PDL has also said that the coalition's survival depends on the repeal of an unpopular property tax. However, Prime Minister Enrico Letta has said he won't support any measure that would increase Italy's debt. He has also warned that the collapse of the government would undermine the economy.

Shares are -0.2%, while yields on 10-year Italian bonds are +4 bps at 4.23%.

ETFs - Stock: EWI. Bonds ITLY, ITLT.

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Comments (1)
  • User 353732
    , contributor
    Comments (5124) | Send Message
    In most polities in the world, including Italy and the US, governments exist to protect and expand the interests of kleptocrats, plutocrats and oligarchs. When a government is no longer useful in this regard it is replaced by one more slavish.
    19 Aug 2013, 06:14 AM Reply Like
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