29 April 2013

ITALY : PM Letta Gets 18 Months; Italia is 'Dying From Austerity'; Slippery Silvio Survives Again.


      The yield on 10-year Italian bonds dropped Monday to 3.94%...their lowest price since October 2010...after Enrico Letta was approved as acting PM.

     Letta declared that he only has 18 months to turn Italia's economy and politics around.
     A BIG winner...is 4-time former PM Silvio Berlusconi.
     Because...angry blogger Beppe Grillo's leftist 5 Star Movement is stuck and fading...and Pier Luigi Bersani has departed his left center party's leadership...licking his wounds.
    Conservative billionaire Silvio, 76...leads polls by 5-8 points.
    Now slippery Silvio only has to survive 2 trials...for corruption and sex with a minor...to remain THE power in Italian politics.
    Silvio's longtime associate...Angelino Alfano is even Letta's Deputy PM.
    But Silvio must also thwart another election...and anger among the populace...especially the young...as unemployment hit 11.6%...and Italy steeps itself in recession.