Uncertainty grows in Italy ahead of Wednesday's confidence vote

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Uncertainty grows in Italy ahead of Wednesday's confidence vote

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Italian Prime Minister Enrico Letta is bracing himself for Wednesday’s confidence vote, unsure how much support he will have for his teetering coalition.

Charged by Italy’s president to avoid elections at all cost, Letta’s hopes of survival appear to rest on some 20 senators from Silvio Berlusconi’s People of Freedom Party.

Unhappy at their leader’s decision to pull his ministers from Letta’s government, Berlsuconi has reportedly back-tracked agreeing to give conditional support long enough to pass the 2014 budget and tax reforms in return for November elections.

Freedom People Party Senator Carlo Giovanardi said disagreements within the party had been resolved :

“The divisions within the party have reunited after the proposals that were made. That is to allow the government to continue, at least for now.”

However it is still not clear if Letta will accept the conditional support or if Berlusconi’s senators really will vote for Letta when the time comes.

Meanwhile Berlusconi’s attempt to bring down the government in a dispute over his fraud conviction continues to rattle the financial markets.