The Italian parliament meets today to begin the election of a new president. The vote will be closely watched as the new head of state will take the lead in trying to end Italy’s political gridlock after inconclusive elections on Feb. 24-25. Here are some details on how it works.
Mario Monti, a former European Union competition chief, once told companies like Microsoft Corp. what to do. As Italy’s next premier, he would face a tougher task getting Italians to overhaul the region’s third-biggest economy.
Mario Monti, Italy’s premier-in- waiting, faced political resistance on forming a Cabinet as his market honeymoon turned sour, with Italian yields surging amid concern he’ll struggle to tame Europe’s sovereign-debt crisis.
Enrico Letta, deputy secretary of Italy’s biggest political party, was designated prime minister in an appointment that promises to end months of political gridlock and foster a generational shift in government.