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Old 14-02-2014, 14:10
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Default Re: Market news and trade recommendations by FBS

Italy will have new government

Italyí Prime Minister Enrico Letta will step down today as the leadership of his centre-left party deserted him for Matteo Renzi (136 votes to 16).

Critics say that Letta hasnít been able to carry out much-needed administrative reforms and stimulate economic growth. Italy is suffering from near-record levels of unemployment a public debt of more than 2 trillion euro. The nationís GDP shrank by 9% in 7 years.

Renzi, 39, is now expected to be asked by the President Napolitano to form a new government. He will be Italyís third unelected premier in as many years.
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