Italy Other


Italy: Mario Monti forms technocratic government

November 12, 2011

After dominating Italy's political arena for 18 years, Prime Minister Silvio Berlusconi resigned on 12 November in response to mounting pressure from international financial markets. Previous attempts to regain investor confidence had failed, as the Berlusconi administration was unable to implement the much-needed structural reforms and quell concerns about the sustainability of the country's debt. On the same day, parliament approved the Stability Law, which Berlusconi had set as a condition for resigning. The bill includes financial stability measures aimed at reducing the debt burden of 120% of GDP in 2010 - the second largest in the Euro area after Greece. The package of economic reforms includes, among other measures, increasing the retirement age to 67 by 2026, the sale of state-owned real estate and the privatization of a number of municipal public services. On the following day, President Giorgio Napolitano appointed former European Commissioner Mario Monti as head of a new technocratic government composed of non-partisan experts. As well as acting as Prime Minister, Monti will also lead the finance and economics ministries. The new government will be supported by all the political forces represented in the Italian parliament, with the exception of the Northern League party Berlusconi's former main ally. The Monti administration faces the task of pushing through further austerity measures in order to relieve market pressure on the country's debt. The new government will remain in office until 2013, when the next elections are scheduled. However, local analysts don't rule out the possibility that Italian lawmakers will push for early elections, thereby giving the government just enough time to approve the most urgent reforms.

Author:, Head of Data Solutions

Sample Report

Looking for forecasts related to Other in Italy? Download a sample report now.


Italy Economic News

  • Italy: Manufacturing sector contracts at the sharpest pace in almost four years in November

    December 3, 2018

    The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dipped to a near four-year low of 48.6 in November from October’s 49.2.

    Read more

  • Italy: Revised estimate shows economy contracted in Q3

    November 30, 2018

    The Italian economy contracted for the first time in nearly four years in the third quarter, weighed down by its shrinking domestic sector.

    Read more

  • Italy: Inflation ticks up in November on higher food prices

    November 30, 2018

    According to provisional data released by the National Statistical Institute (ISTAT) on 30 November, consumer prices dropped 0.1% month-on-month in November, following October’s flat reading.

    Read more

  • Italy: Business confidence declines for the fifth consecutive month in November

    November 27, 2018

    The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, market services and retail sectors—edged down to 101.1 points in November from October’s revised 102.5 points (previously reported: 102.6 points), marking the worst reading since December 2016. November’s reading was the result of a deterioration in sentiment in the manufacturing, construction and market services sectors, which more than offset improved sentiment in the retail trade sector.

    Read more

  • Italy: Consumer confidence drops in November

    November 27, 2018

    The consumer confidence index released by the National Institute of Statistics (ISTAT) declined to 114.8 points in November from October’s revised 116.5 points (previously reported: 116.6 points). Consumers’ expectations of the future general economic situation and their assessments of the current general economic situation deteriorated, driving the downturn, likely due to growing concerns about the recent turbulence in the financial markets and the stagnation of the economy in the third quarter.

    Read more

More news

Search form