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After being up nearly 4% earlier, Italy's FTSE MIB (EWI) turns negative as Berlusconi's...

After being up nearly 4% earlier, Italy's FTSE MIB (EWI) turns negative as Berlusconi's coalition - at this moment - looks to have taken the Senate. Along with that is the surprisingly poor showing by Brussels' man in Rome, Mario Monti. He's now at 8% - too small to be allowed any influence over the new government. Up nearly 3% earlier, the Stoxx 50 (FEZ) is back to flat. The euro clings to a tiny slice of its earlier gains.
Comments (10)
  • Gary Jakacky
    , contributor
    Comments (2414) | Send Message
     
    Good...the worse "Brussels men" do EVERYWHERE, the sooner Europe will collapse and the world can form a new coalition of economic powers, not wannabes.
    25 Feb 2013, 11:15 AM Reply Like
  • spald_fr
    , contributor
    Comments (2705) | Send Message
     
    So let me get this right. There's no money left for social contracts to the Italian citizenry. Austerity is implemented but the citizens do not like to budget downwards. So they call an election to vote in another party who does what? Abandon austerity and spend money it doesn't have? What does this election accomplish? Clearly I'm not European.
    25 Feb 2013, 12:56 PM Reply Like
  • Humble Value Miner
    , contributor
    Comments (407) | Send Message
     
    actually the real thing Europeans would like is to print money like USA, but Germans don't want this.......... they pretend we do pay with austerity our debts (and possibly that then we do make more debt in order to buy Volkswagens and Mercedes)
    Italian elections have been called because the Monti government lost the Parliament approval and it had no sense to find a replacement because the natural termination of the cycle was anyway scheduled for April.
    By the way Monti government was a sort of bi-partisan government established after Berlusconi lost the Parliament approval.
    Anyway the Italian government is not directly elected: the President of the Republic suggests a Premier that must then be approved by the Parliament, and can govern until it is able to maintain the "confidence" vote. If the government lose "confidence" then a new Premier can be appointed (without elections; elections are needed if the President is unable to find a Premier that can find support).
    Before Berlusconi, that owns televisions and has been suspected to buy opposition senators with good money, Italian governments very often used to last less than one year.
    By the way, Rome was not founded yesterday, so Italians are used to go on even without a government (possibly better, government just eats money).
    25 Feb 2013, 02:41 PM Reply Like
  • Freedoms Truth
    , contributor
    Comments (833) | Send Message
     
    Dont be so hard on them, it's not like they re-elected an job-killing economic incompetent who's bankrupting the treasury, like the American voters did in November.
    26 Feb 2013, 12:29 AM Reply Like
  • Kyle Spencer
    , contributor
    Comments (998) | Send Message
     
    Papi's back!
    25 Feb 2013, 11:31 AM Reply Like
  • daro
    , contributor
    Comments (1506) | Send Message
     
    I think DSK should become italian!!! he would do better there.
    25 Feb 2013, 11:57 AM Reply Like
  • davidshelton
    , contributor
    Comments (310) | Send Message
     
    The buffoon is back!
    25 Feb 2013, 11:47 AM Reply Like
  • minecanary
    , contributor
    Comments (411) | Send Message
     
    It appears their appetite for destructive voting equals our own

     

    Watch how fast the Democratic sensors pull this story :)
    25 Feb 2013, 11:49 AM Reply Like
  • moneyTalksBSWalks
    , contributor
    Comments (193) | Send Message
     
    Bunga bunga parties here we come! Party is on in Italy.
    25 Feb 2013, 12:38 PM Reply Like
  • jonp12
    , contributor
    Comment (1) | Send Message
     
    Here we go again-the market makers making money from small-
    fries based on soooo irrelevant news across the pond.
    25 Feb 2013, 03:42 PM Reply Like
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