Matteo Salvini, who has plunged Italy into turmoil by pulling out of a coalition government, could eventually take the country out of the EU, a former prime minister warned on Sunday.
Milan court ruled that former Prime Minister Silvio Berlusconi should be barred from holding public office for two years following a conviction for tax fraud. But, since Berlusconi is a senator, the court's decision will have no immediate effect and his expulsion from the Senate will depend on a separate vote in the upper house of parliament, expected to take place next month.
Silvio Berlusconi backed away from his threat to topple Italy’s coalition government in a humiliating political climb down on Wednesday that could fatally weaken his 20-year grip on Italian politics. The billionaire former prime minister was forced into the last minute U-turn by a revolt that threatened to shatter his conservative party.
Leading figures in Silvio Berlusconi's own party have defied him by calling on MPs to back the Italian coalition government in a confidence vote. Angelino Alfano, Berlusconi's deputy and secretary of People of Freedom, urged the party to unite behind Prime Minister Enrico Letta on Wednesday.
Centre-right leader Silvio Berlusconi has affirmed that Italy's shaky government, a coalition of his party with the centre left, must continue despite severe tensions after the Supreme Court confirmed his conviction for tax fraud.
The European Central Bank cut interest rates to a new record low on Thursday amid a chorus of calls for the Euro zone to focus on growth to end a nightmare of unemployment in the bloc. It was the first cut in ten months.
Italy's new government line-up brings together personalities from across the political spectrum, from Silvio Berlusconi's apparent successor to a crime fighter and a militant feminist from the radical party. Some of the key names of the ‘grand coalition’ members tasked with tackling the social and economic crisis in recession-hit Italy-.
Europe is expected to accelerate a shift away from its austerity-first agenda this week as the new Italian government changes course and a German-Spanish investment pact underscores a renewed focus on combating record unemployment. This comes on the background of much criticized statements from European Commission president Jose Barroso who said ‘austerity was over’.