Monte dei Paschi: Italy Must Cut Ties Between Banks and Politics
Business / Politics

Monte dei Paschi: Italy Must Cut Ties Between Banks and Politics

Were it not for some shady derivatives trades carried out by the world’s oldest bank, Banca Monte dei Paschi di Siena SpA, Italy’s most recent parliamentary elections might have produced a government. When Bloomberg News on Jan. 17 broke the first details of derivatives transactions that the bailed-out Monte dei Paschi made to hide losses, … Continue reading

Italy’s Political Crisis is in President Napolitano’s Hands
Politics

Italy’s Political Crisis is in President Napolitano’s Hands

The chaos and uncertainty following Italy’s parliamentary election last month is compounded by the imminent retirement of the one man who has any chance of solving the crisis, President Giorgio Napolitano. A wave of support for the populist 5-Star Movement produced an electoral earthquake in the Feb 24-25 poll, shaking the traditional political system to … Continue reading

Italian President Napolitano Calls for Unity of Political Forces
Politics

Italian President Napolitano Calls for Unity of Political Forces

President Giorgio Napolitano today called Italy”s political forces to think about the general interest of the country and give continuity to the democratic institutions amid the crisis of ingovernability created after the elections. Two days after ordering the center-left leader Pier Luigi Bersani to check whether he had the necessary support in both houses of … Continue reading

Consultation Began To Form Next Italian Government. Grillo says M5S not available
Politics

Consultation Began To Form Next Italian Government. Grillo says M5S not available

The election gave Democratic Party leader Pier Luigi Bersani‘s centre-left alliance with the leftist SEL party a majority in the lower house but not in the Senate, leaving it unable to govern without the support of other parties. The stalemate has revived fears of a prolonged bout of instability in the euro zone‘s third largest economy … Continue reading