BERLUSCONI'S REVENGE:UPDATE: Monti Government Has Run Its Course, Pier Luigi Bersani, head of Democratic Party Tells President!!!

PDL has announced the abstention in this vote.

so gov will fall right?

zerohedge‏@zerohedge

PDL ABSTENTION IN VOTE WOULD NOT BRING DOWN MONTI'S GOVERNMENT

Now speaking Di Pietro, the leader of the left-party "Italia dei Valori". They have always voted against Monti.

Yes, but Monti will know that there is no majority.

Who would most likely replace him? Some pro-Euro party, is there any?

gov will only fall if there is any voting against gov standing or if PM resigns right?

PDL was the main ally of Monti government.

zerohedge‏@zerohedge

Il Giornale: "The Monti Government Is Increasingly Hanging By A Thread" [link to www.zerohedge.com] …

As predicted in our overnight summary piece titled, "Sentiment Shaken By Concerns Of Political Circus Returning To Italy" Europe appears set to be gripped by yet another political crisis, this time by the country that most forgot in 2012, with the attention focusing primarily on Spain and Greece. The reason is what some may call Berlusconi's revenge, who after being eliminated by the ECB in November 2011 when Draghi sent Italian bond spreads soaring, and made Berlusconi's departure a condition to returning normalcy in exchange for planting yet another Goldman tentacle in Italy, Mario Monti, has now shaken the credibility of his successor by having his party PDL abstain from a vote of confidence in favor of Monti's growth measures. The result, as Il Giornale reported moments ago, is that the "the government is increasingly hanging by a thread". It continues: 'Now Prime Minister Mario Monti is likely to no longer have the numbers in parliament. The majority creaks." Is this the end of the technocratic quiet in the austerity regimes? And if the people have said Basta to Goldman and its appointees, does this open the door wide for the likes of Berlusconi to retake the power and force Goldman to scramble to regain status quo "normalcy" for another several months just as every sellside firm has bet the ranch on a global renaissance in 2013?
The position of the PDL has created a strong nervousness among the ranks of the Democrats. "When the PDL decided to move out abstention by the majority, this means that the government no longer has the confidence of the majority of the halls of Parliament," he emphasized the group leader of the Democratic Party in the Senate Anna Finocchiaro denouncing "a political issue of great importance." "Today the trust has numbers that do not meet the majority of the Senate," he continued Finocchiaro that, despite not having a crystal ball, did not rule out the outcome "technically" bad for the government. And this was one consequence: "Monti must rise to the Quirinale." Satisfied, however, the Northern League. "Finally, the PDL has opened my eyes and decided not to support more government," said the leader of the Northern League Federico Bricolo the hope that "the PDL'm serious," and "continue on this road because this means that you can also open new political scenarios."
Because Europe didn't have enough moving pieces as is. While for now the government is not in danger of an imminent collapse, the EURUSD, which once again dipped below 1.3000 is certainly watching the developments out of Italy with great interest.
[link to www.zerohedge.com]

Last Edited by Luisport on 12/06/2012 10:51 AM

Yes, if the vote of confidence in this chamber will pass, Monti will not be required to resigns, but probabily he will resings anyway, because he will know that he can not survive.
If this vote will not pass, Monti MUST resigns.
An abstention in the "Camera" (this chamber) will lower the quorum for the vote, instead in "Senato" an abstention = NO.

President of the Republic Giorgio Napolitano: "The institutional holding of our country is out of the question and I have the duty to reaffirm publicly and I'm able to do it."

I have used Google Translator lol, sorry.

Live-text, use google translator: [link to www.repubblica.it]

so... he will try to make a presidential new gov or announce new ellections?

I don't know.
More likely new elections... the President of Republic likes Monti gov, but he doesn't have power to bring it alive if gov has no majory in Parliament.

majority*

Gold above 1700 again.

There's no real solution to the current situation:

A) most don't like Monti (no progress under him)
B) most don't want Mr B back (setback)
C) just leave alone bringing back the communists (an even further setback)
D) huh? bring in a comedian (Beppe Grillo) (road to "unknown")

Although rather than A, B or C, D would be quite a ride although the lack of "appearing serious" would prevent him from getting to far I guess.

We are in REAL need of fresh blood, people like Ron Paul but in their late 40s..... the actual class of politicians appears to belong 101% to the same club of either being there due

-to family ties
-to favours granted
-business ties with the "powerfull"
-to having "bought" their seat
-"rewards" to pleasures granted to somebody
-just keep their mouth shut
-avoid imprisonment

Italy Can’t Afford to Remain in Euro, Party Head Grillo Says

Italy can’t bear the cost of staying in the euro and the country should hold a referendum on whether to remain in Europe’s monetary union, the leader of the insurgent 5 Star Movement said.

What now. Nothing happening?

PDL doesn't vote, but no resignation at the moment. Monti just say that he is in contact with President Napolitano, no other specifications.

It's not wisely resolved to spend attention to the politicians. They won't help you if you and your wishes are not accompanied with an extra income for them.

The collapse as everything creates the personal who is worth to spend attention to. That is the people who really is able to solve problems at place. And this one will be the new "leaders".

Nevertheless besides my Augustiner Bräu Edelstoff, consumed in quiet an appealing temperature, the drama delivers a lot of fun. Thanks.

italian political crisis is already a fact, despite monti's government or resignation, nothing will change in the near future

The return of the shadow of Berlusconi, terrifies Mrs. Italy (cartoon) [link to virtualblognews.altervista.org]

A Greek-Orthodox prophecy almost fulfilled.

Berlusconi is going to be the new Mussolini. Merkel is like Hitler, thus bye-bye E.U!

But this time Greece will join ur ranks.

zerohedge‏@zerohedge

Italy Passes Law Barring Convicted Politicians From Office. So did everyone just quit?