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Italian markets in turmoil as PM tries to save government

Italian shares plunge 2.25% in early trading, while ten-year bond yields climb 8 bps to 4.65% following Silvio Berlusconi's decision over the weekend to withdraw his support for the ruling coalition and pull five ministers out of the cabinet.

Prime Minister Enrico Letta is set to request a parliamentary vote of confidence for Wednesday as he looks to save his government and avert new elections. One possible hope is that disaffected members of Berlusconi's People of Liberty will back Letta.

The crisis comes as the former PM faces a vote over whether he should be expelled from the Senate following his conviction for fraud.

ETFs - Stocks: EWI. Bonds: ITLT, ITLY

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Comments (1)
  • jhooper
    , contributor
    Comments (6177) | Send Message
    "he should be expelled from the Senate following his conviction for fraud."


    Expelled? I think they mean a temporary timeout from gov. In the meantime, such a conviction makes him imminently qualified for a position in the US Democratic party or a position at CNN.
    30 Sep 2013, 10:12 AM Reply Like
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