Uh oh

It’s official—Italy’s leading political party says it can’t form a government

March 28, 2013
Obsession
Euro Crunch
March 28, 2013

The Democratic Party’s Pier Luigi Bersani told outgoing Italian President Giorgio Napolitano that he was unable to win support from Silvio Berlusconi’s center-right People of Freedom Party, nor Beppe Grillo’s anti-establishment Five Star Movement, Bloomberg reports. This means he was unable to form a majority government.

Napolitano will likely move to form a broad coalition government and select his own cabinet in order to avoid another election. As we’ve explained, the likely fragile government that will come out of this isn’t a good sign for the euro zone.

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