Monday, 30 September 2013

Markets hit by political upheaval

Source BBC News@

Italian flagThe cost of borrowing has been rising for Italy

The financial markets have been rattled by Italy's deepening political crisis.

Italy's 10-year bond yield - an indication of how much the government has to pay to borrow money - rose as high as 4.66%, the highest level in more than 3 months.

The euro fell to 1.2218 against the Swiss franc, the lowest level since late June.

Prime Minister Enrico Letta plans to hold a confidence vote on Wednesday, to seek the backing of Italy's parliament.

He was forced to make that move after five ministers from Silvio Berlusconi's party stepped down at the weekend.

But those ministers have now given mixed signals as to whether they are actually leaving the government.

After meeting the prime minister, President Napolitano said the rebel ministers' position had led to a "climate of evident uncertainty regarding possible developments".

Đăng ký: Tieng Anh Vui


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