Back
2 Oct 2013
Letta urges parliament to give him vote of confidence
FXstreet.com (Barcelona) - Speaking before the parliament in Rome ahead of the crucial confidence vote today, Italian PM Enrico Letta was trying to convince lawmakers that he should be granted the mandate to lead a "real and new pact" to get the Italian economy back on track. He stressed that it was important to focus on stimulating growth and employment, rather than on dealing with a political chaos in the country.
The outcome of the confidence vote, which will take place at midday and not in the evening as previously planned, is crucial for the entire Eurozone, as further political unrest in Italy could weigh on the recovery in the entire area.
Letta urged the senators to give him their "courage and confidence" and pointed to his government's merits for boosting the economy over the five months it had been in office. Forming a new coalition government now could prove to be difficult like last time and it could delay the recovery in the country and “embarrass Italy in Europe,” the Prime Minister said.
According to the Investec team of analysts “a vote of confidence for the PM and his administration is expected. With no resolution in sight, market concerns remain over whether a weakened government will be able to guide Italy through the recession.”
The outcome of the confidence vote, which will take place at midday and not in the evening as previously planned, is crucial for the entire Eurozone, as further political unrest in Italy could weigh on the recovery in the entire area.
Letta urged the senators to give him their "courage and confidence" and pointed to his government's merits for boosting the economy over the five months it had been in office. Forming a new coalition government now could prove to be difficult like last time and it could delay the recovery in the country and “embarrass Italy in Europe,” the Prime Minister said.
According to the Investec team of analysts “a vote of confidence for the PM and his administration is expected. With no resolution in sight, market concerns remain over whether a weakened government will be able to guide Italy through the recession.”