Tag Archives: Italy

Euro rises to $1.31 on formation of government in Italy

Euro was lifted by good news out of Italy, on two fronts – one being a formation of a government and second, the drop in borrowing costs. Over the weekend, 46-year-old Letta, Italy’s Prime Minister, formed a new coalition government that includes the two main parties of Italy. Letta is a moderate leader of the country’s center-left Democratic Party, and his cabinet is a mix of...

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April 29, 2013 @ 10:18 am

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Italy’s Prime Minister Letta to form new government

Italy has finally ended two months of political uncertainty caused by an inconclusive election in February which left the country without a government. February’s inconclusive elections left the Democrats and their allies in control of the lower Chamber of Deputies but not the Senate. On Wednesday, Enrico Letta, a 46-year old center-left lawmaker and No. 2 Democratic Party leader, was...

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April 25, 2013 @ 11:58 am

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Italy remains without government one-month after inconclusive elections

Italy has now been without a formal government for a month since general elections in February were inconclusive and no candidate was able to gain a majority of votes to become prime minister. The February 24-25 elections resulted in a hung parliament. Meanwhile, Italy’s President, Giorgio Napolitano, is trying to break the deadlock after a failure in negotiations on Friday to form a new...

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March 31, 2013 @ 11:47 am

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Euro slips after disappointing Italy debt auction

Investor confidence in the euro was dented after an Italian government debt sale ended short of meeting the upper target range, causing borrowing costs to rise higher. Euro dipped below the key psychological $1.3000 level as Italy’s benchmark 10-year bonds yields rose 7 basis points. The yields on the 3-year debt rose to their highest since December 2012. The political stalemate is clearly...

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March 13, 2013 @ 12:11 pm

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