The candidate of comic-turned politician Beppe Grillo’s 5 Star Movement, which opposes the austerity policies of Prime Minister Mario Monti, was elected mayor of the Italian city of Parma, results show.
Prime Minister Mario Monti is shifting his focus from overhauling Italy’s economy to tackling corruption, a problem highlighted by the recent resignation of one of the country’s best-known political leaders amid a party- financing scandal.
Italy’s Chamber of Deputies began debate before a vote that will show whether Prime Minister Silvio Berlusconi has enough support to stay in power and implement austerity measures to trim the euro region’s second- biggest debt and bring down record borrowing costs.
Italian Prime Minister Silvio Berlusconi’s surprise nomination of Ignazio Visco to run the Bank of Italy sets up a possible clash with French President Nicolas Sarkozy over the composition of the European Central Bank’s Executive Board.
The deepening divisions in Prime Minister Silvio Berlusconi’s coalition over how Italy can meet European Union demands for more robust efforts to tame a $2 trillion debt are fueling calls for early elections.
Prime Minister Mario Monti’s emergency budget plan won final approval in Parliament today as Italy struggles to tame surging borrowing costs before facing 53 billion euros ($69 billion) in debt repayments early next year.