- Italian Prime Minister Enrico Letta comfortably won a confidence vote in parliament yesterday, underscoring the government's new found stability following the chaos caused by the process to expel former PM Silvio Berlusconi after his conviction for tax fraud in the summer.
- Letta pledged a sweeping package of reforms whose aim would be to cut debt, bring down rampant unemployment and otherwise revive Italy's moribund economy. Measures would include lowering taxes and proposals to attract foreign investment.
- Meanwhile, Italy's CPI dropped 0.3% on month in November, as in October, and came in above consensus of -0.4%.
- On year inflation, inflation +0.7% vs +0.7% and +0.6%.
- The FTSE MIB is -0.2% and the euro is -0.1% at $1.3771. (PR)
- ETFs: EWI, ITLY, ITLT
Italian PM gains in strength, pledge reform
Dec 12 2013, 04:53 ET