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D-FOX Developing Information

Italy to face international pressure if crisis drags on

Lynsey_ADMIN_Lynsey_ADMIN_ Administrator
edited September 2013 in Daily News
Italy could face pressure from international partners if the current political crisis persists and reverberates through the euro zone, Labour Minister Enrico Giovannini said on Sunday.

Speaking a day after Silvio Berlusconi pulled his ministers out of the cabinet, Giovannini said the move -- which pulls the rug from under Prime Minister Enrico Letta's government and lurches the country into another political crisis -- is likely to cause some instability on financial markets on Monday.

The volatility need not last if there is a quick resolution to the crisis, Giovannini told Reuters in an interview.

He said there was no prospect of Italy following Greece or Portugal and being placed under special oversight by the European Commission, International Monetary Fund and European Central Bank "troika".

But he said Italy, which has only recently regained its footing with financial markets and its European Union partners, was walking a fine line on the international stage.

"Before you embark on a Journey of Revenge, Dig Two Graves" Confucius (504 bc)
“The darkest places in hell are reserved for those who maintain their neutrality in times of moral crisis.”
"If angry, count to ten. This will give you time to find a weapon." - Will Spencer
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