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13 Feb 2014
Italian government's fate on the line
FXStreet (Łódź) - Italian PM Enrico Letta might lose his position to Matteo Renzi, mayor of Florence and the leader of the Democratic Party, if the party's national committee backs his candidacy at a special meeting held today.
Renzi has been criticizing Letta's government for not making enough efforts to pull the country out of the crisis, ever since he was chosen to lead the center-left party in December. Should Letta resign, Renzi could take over as prime minister without a new election.
Enrico Letta has canceled a visit to the UK today, scheduled for February 24, which might mean he is already preparing to step down.
According to Adam Button from Forex Live, “Letta leaving to clear the way for a stable government under Renzi might be the best scenario for Italy, especially if he can push through electoral reform.” He also reassures that “Italian yields have moved up 4 basis points but at 3.76% there is no cause for alarm.”
Renzi has been criticizing Letta's government for not making enough efforts to pull the country out of the crisis, ever since he was chosen to lead the center-left party in December. Should Letta resign, Renzi could take over as prime minister without a new election.
Enrico Letta has canceled a visit to the UK today, scheduled for February 24, which might mean he is already preparing to step down.
According to Adam Button from Forex Live, “Letta leaving to clear the way for a stable government under Renzi might be the best scenario for Italy, especially if he can push through electoral reform.” He also reassures that “Italian yields have moved up 4 basis points but at 3.76% there is no cause for alarm.”
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