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26 Feb 2013
Italy's Bersani far from majority in Senate; hung parliament looms
The center-left coalition continues to lead in Senate with over 31.50% but still far from enjoying a majority. Berlusconi's PDL stands at 30.67%, Grillo at 23,80%, while Monti lags with 9.14%. In the lower house, Grillo now leading Bersani 25.53/25.51%.
Overall, what this means is that the Italian election results show either Grillo's party or the Center-left Bersani claiming victory in the lower house but not in the Senate, even with Monti's support. As a result, hung parliament with the possibilities of second election being called increase. Expect Italian bonds to be dumped by global investors.
Monti just crosses the wires, saying "the outcome of the election highlights the need for election law reform", adding the importance "to ensure transparent and stable government".
Overall, what this means is that the Italian election results show either Grillo's party or the Center-left Bersani claiming victory in the lower house but not in the Senate, even with Monti's support. As a result, hung parliament with the possibilities of second election being called increase. Expect Italian bonds to be dumped by global investors.
Monti just crosses the wires, saying "the outcome of the election highlights the need for election law reform", adding the importance "to ensure transparent and stable government".