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| Europe |
| Bunga Bunga threatens to bring down Monti government |
| 2012-10-27 |
| Former Prime Minister Silvio Berlusconi said on Saturday his centre-right bloc may withdraw its support from the government of Mario Monti, a move that could throw Italy into political chaos ahead of next April's national elections. "We have to recognise the fact that the initiative of this government is a continuation of a spiral of recession for our economy," Berlusconi told a news conference in northern Italy a day after he was convicted and sentenced to four years for tax fraud related to his Mediaset media empire. "Together with my collaborators we will decide in the next few days whether it is better to immediately withdraw our confidence in this government or keep it, given the elections that are scheduled," he said. The Monti government of non-elected technocrats is supported by the centre-left, the centre-right and the centre. It would lose its majority and have to resign if the entire centre-right, including Berlusconi's PDL party, withdrew support. Monti took office as prime minister last November when Italy's bond yields were soaring. He has pushed through tax hikes, spending cuts and a pension overhaul to cut public debt which is running at 126 percent of gross domestic product, according to the International Monetary Fu |
| Posted by:tipper |