ROME: Italian President Giorgio Napolitano told Prime Minister Mario Monti on Saturday he would need to stay on as long as political parties fail to reach an accord that would allow a new government to be established after a deadlocked election.
Italy has been mired in political stalemate since the February vote that saw the centre-left alliance of Pier Luigi Bersani secure a majority in the lower house but fail to win the numbers to control the Senate as well and form a government.
"It is important that in Europe, and in the exercise of whatever initiatives are possible and needed especially for the economy and jobs, the government remains under the authoritative leadership of Mario Monti until a new government is formed," Napolitano said in a statement.
With memories still fresh of the financial crisis that brought Monti to power in 2011, the impasse has aroused fears that bond markets could take fright, reigniting the turmoil and endangering the government's ability to manage Italy's 2-trillion-euro public debt pile.
Parliament sat for the first time on Friday and was expected to complete the elaborate process of electing new speakers on Saturday. But the parties have remained far apart, with no sign of any readiness to work together and strike a deal.
Napolitano said he would begin consultations with party leaders on Wednesday to see if there is any chance that any of them can muster enough support to form a workable majority in parliament.
Saturday's statement, which followed a meeting with Monti on Friday evening, ends speculation that the former European Commissioner could leave government and take over the influential position as speaker of the Senate as part of a wider deal with the centre-left.
Italian newspapers reported that the decision was made over the objections of Monti, who had hoped to take the Senate helm, the second highest office of state after the president.
Comments
Comments are closed.