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BERLUSCONI SAYS HE MAY WITHDRAW HIS CANDIDACY IF MONTI STEPS IN!!!
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[quote:Anonymous Coward 29631687:MV8yMDc2MzAzXzM0OTc1NzExX0Q3MUI0QzU5] Berlusconi shouldn’t be counted out in Italy December 11, 2012, 12:59 PM . Financial markets around the world are taking Italy’s latest political turmoil in stride, apparently confident that a mainstream politician committed to outgoing Prime Minister Mario Monti’s technocratic vision – if not Monti himself — will prevail in early elections, leaving Silvio Berlusconi to gnash the scenery like a frustrated wrestling heel. But investors may be a bit complacent, argues Neil Mellor, currency strategist at Bank of New York Mellon. Granted, Berlusconi’s People of Liberty, or PDL, party polls around 16% support, well behind the center-left Democratic Party, whose leader has pledged to maintain Monti’s reforms. But while a lot can be said about the scandal-plagued Berlusconi, “one irrefutable fact is that the former prime minister recognizes an electoral angle when he sees it,” Mellor said, in a research note. And right now it doesn’t take much imagination to conclude that the three-time former premier “has been lured back into the ring by the glowing potential of an antiausterity platform — a platform that would give him the best chance of bridging the current chasm in the polls,” Mellor said. Indeed, one just need to look at the attack Berlusconi launched in a television interview (and repeated on his Facebook page) mocking Monti’s call for a yield spread between Italian IT:10YR_ITA+0.18% and German DE:10YR_GER+0.55% government bonds of 287 basis points. Berlusconi railed that the “spread is a scam” and seemed to imply that the run-up in Italian borrowing costs last year was merely a ruse engineered to force his ouster and clear the way for Monti’s unelected technocratic government. ... http://blogs.marketwatch.com/thetell/2012/12/11/berlusconi-shouldnt-be-counted-out-in-italy/ [/quote]
Original Message
Berlusconi Is Getting His Revenge — The Italian Market Is Getting Destroyed
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link to www.businessinsider.com
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