BREAKING: Straw That Breaks The Euro’s Back – Italy’s Monti May Resign Today. Berlusconi Comeback? Berlusconi’s 206 Mps Could Be Asked To Abstain In A Separate Vote Of Confidence This Afternoon. Euro Crash Imminent?

This Monti resignation rumor is so unexpected. Just like spotting a Black Swan on Zurich Lake. (now talking about Black Swans)

BERLUSCONI: Things Have Gotten Much Worse In Italy, And I Am ‘Besieged’ By Requests To Make A Comeback

Italian bond yields are surging, Monti appears to have lost majority in the Senate and rumors that he should resign any minute.

BERLUSCONI’S REVENGE: Italian Market Dives, Yields Spike, Amid New Political Chaos

Everything was going along swimmingly, and then BAM.

The Italian market has gone sharply negative and yields have spiked after political chaos breaks out.

The big issue is tension between Monti’s party, and Berlusconi’s party, which abstained from a key vote.

More to come in a moment.

Here’s Italy’s FTSE MIB, down 1.34%.

The Italian government of Mario Monti survived a confidence vote on economic measures in the Senate on Thursday despite a walkout by Silvio Berlusconi’s PDL party that indicated mounting political tensions ahead of an election next spring.

Monti’s technocrat government won the vote by 127 to 17 votes with 23 abstentions after People of Freedom (PDL) senators abandoned the chamber because of earlier criticism of Berlusconi by Industry Minister Corrado Passera.

In an increasingly fevered pre-election atmosphere, Berlusconi dropped a strong hint late on Wednesday that he could go back on previous statements and run for a fifth term as prime minister in the election, expected in March.

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Monti lost governability, after latest multi-partisans reshuffles of votes and power in Italy – Very likely tonight resigns

So what will Merkel now say… ref Monti… If she says nothing then there the EU must be clearly fully rotten – Thank You for record taxes

(ANSA) – Rome, December 6 – The centre-left Democratic Party (PD) said Thursday that Premier Mario Monti must consult with Italian President Giorgio Napolitano as his emergency technocrat government has effectively lost its majority in parliament.

The call came after ex-premier Silvio Berlusconi’s People of Freedom (PdL) party announced it was deserting a confidence vote in the Senate on a government economic-development bill.

“If the government no longer has a majority, I think Monti should go to (see Napolitano at) the Quirinal Palace,” said Anna Finocchiaro, the PD’s Senate whip.

The government won the confidence vote as it was backed by the other parties supporting Monti’s government, including the PD and the centrist UDC, and the PdL, the biggest group in parliament, did jot actively vote against it.

If Monti’s government had lost the vote it would have been forced to step down. “There is a political problem of enormous importance,” Finocchiaro said shortly before the confidence vote took place.

“Today the government will have numbers (of supporters in parliament) that do not respect the Senate majority”.

– DB


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