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.
Former Italian Prime Minister Silvio Berlusconi told President Giorgio Napolitano he is ready to cooperate with rivals in the formation of a government and said he wants a voice in picking the next president.
Former Italian Prime Minister Silvio Berlusconi renewed his campaign partnership with the Northern League party, strengthening his chances in the Senate and pressuring his chief rivals to forge an alliance of their own.
Silvio Berlusconi’s biggest political ally in the campaign for Italian parliamentary elections said he may support a plan to create a local currency that could be used alongside the euro in the region of Lombardy.
U.K. stocks climbed for a second day as investors assessed conflicting polls for evidence that Italy will get a government committed to economic reform, while Moody’s Investors Service downgraded Britain’s debt rating.