Italian Prime Minister Enrico Letta won a confidence vote in the lower house of Parliament for his new government program, even as his own party’s economic spokesman said the 2 percent growth target for 2015 is optimistic.
Former Italian Premier Silvio Berlusconi said he’s powerless to topple Enrico Letta’s coalition government after Deputy Prime Minister Angelino Alfano left the PDL party to form a group supporting the cabinet.
Italy’s 10-year yield approached a five-month low as Prime Minister Enrico Letta said turmoil in former Premier Silvio Berlusconi’s PDL party will boost government stability and the nation sold five-year notes in an exchange auction.
Italian Prime Minister Enrico Letta won confidence votes in parliament today after Silvio Berlusconi backtracked on a pledge to bring down the five-month-old government as his party showed signs of deserting him.
Italian Prime Minister Enrico Letta’s government teetered on the verge of collapse after allies of former leader Silvio Berlusconi, led by Deputy Premier Angelino Alfano, said they planned to quit the cabinet.