Italy Economy Real Time Data Charts

Edward Hugh is only able to update this blog from time to time, but he does run a lively Twitter account with plenty of Italy related comment. He also maintains a collection of constantly updated Italy economy charts together with short text updates on a Storify dedicated page Italy - Lost in Stagnation?

Monday, May 01, 2006

Italy's New Government Seems Near

Well, Prodi seems to have passed the parliamentary test, and both his candidates for speaker have been adopted, although all of this was hardly achieved in spectacular style. This does not give the impression of being anything like the strong government Italy needs to begin to address some of its very important problems.

Anyway, now it seems it is Ciampi who is under pressure:

President Carlo Azeglio Ciampi was under pressure on Monday to quickly end Italy's post-election political stalemate by asking the narrow victor, Romano Prodi, to form a new government.

Once the May Day holiday is over, outgoing Prime Minister Silvio Berlusconi, who earlier contested the result of the April 9-10 poll, is due finally to resign, setting the clock running for a new administration to take office.

With credit rating agencies pushing for prompt action to tackle the country's struggling economy and wayward public finances, Italy could have a centre-left government led by Prodi in place by the end of the week, under a best-case scenario.

But that decision rests squarely on the shoulders of the 85-year-old Ciampi, who is due to receive Berlusconi's resignation early Tuesday afternoon.

Ciampi, whose own term expires in mid-May, must decide whether he will give Prodi the mandate or, as he has indicated in the past, leave the task to the next president.

Prodi has said his cabinet team would be ready by Friday, although he made it clear that it was up to Ciampi to decide.