Italian Prime Minister Silvio Berlusconi asked lawmakers to "renew" their support of his government by holding a confidence vote.
In an address to Parliament, he also said that if his government does fall, the country will need to hold early elections. He rejected talk of a technocratic government to push through interim reforms.
He also apologized for his majority coalition's failure to approve the 2010 public-finance review, a bureaucratic item the premier described as a mere formality and not subject to any possible controversy. The failure to approve the item triggered demands from the opposition that Mr. Berlusconi resign. Opposition lawmakers boycotted his parliamentary speech Thursday.
Financial markets are too volatile for "Italian political rituals," Mr. Berlusconi said. Yields on Italian 10-year government bonds rose to 5.84% as Mr. Berlusconi spoke from 5.64% on Wednesday. Yields on German bunds of equivalent maturity declined.
The prime minister also warned that failure to achieve European agreements on resolving the regional debt crisis "could destabilize the whole world." Italy's role in the drama is critical, which is why the government's fiscal policy is running a primary surplus that is "best in class," Mr. Berlusconi said.
read more: Olympus Wealth Management
No comments:
Post a Comment