Joined Nov 11, 2007
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Italian Elections Kill the Bull Market as Uprising Seen Uncontrollable

“….The markets were hoping for the liberal leader Pier Luigi Bersani to win easily, allowing him to form a coalition government with technocrat leader Mario Monti.

This would ahve paved the way for unpopular austerity and reforms, that the rest of Europe has been very happy to see.

But the voters had a different idea tonight. As Emmanueal Letta — the second in command of the left party — just explained, the voters have entered a “rebellion” and the country appears to be ungovernable.

The Senate is too divided for any party to claim a victory, and in fact Berlusconi, who was thought to be in second place, appears to have won the majority of seats in the Senate….”

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