Political instability threatens the European markets of Italy
The week of online trading in financial markets closed with the resumption of the Milan Stock Exchange, which continues to benefit from the announcement of the resignation of Prime Minister Silvio Berlusconi. Milan, after having touched also share +2% in the morning, curbs the enthusiasm and folds to a +0.5%; the renewed optimism of investors is due to the appointment of former EU Commissioner Mario Monti who will lead the caretaker government after Berlusconi . The figure of Monti is a certainty in a political situation of total uncertainty afflige not only Italy, but also other European countries whose economies are tied to that of the beautiful country, because of the debt and the value of the oscillation government bonds. The market expects a shift in policy and is concerned about the division within the majority party among those who are ready to support a government of national unity and those who are pushing for immediate elections. The spread between Italian and German Bund Btp decade has seen in recent days to record levels not seen the introduction of the single currency, fortunately, when the spread seems to have stabilized below the psychological threshold of 500 basis points (around 480) and the same time, yields on ten-year fell to below 7%, a level deemed unsustainable by markets.
Other European stock stood just above parity. On the Tokyo Asian closes unchanged the last session that was characterized by a low activity pending developments on the European front, even if the formation of governments of national unity both in Greece and Italy does not seem to be a sufficiently clear signal of economic recovery imminent. Breathes a sigh of relief after France's denial of Standard & Poor about a possible downgrade of the French debt, citing technical errors justified. On the Italian front is expected by the weekend the approval of the amendment on the big promises of austerity measures to the European Union, clause required by Berlusconi before the actual resignation as prime minister. The law should provide stability to return to Italy with the debt and move towards greater economic growth.
In the market for online forex trading include the euro above the threshold of $ 1.36. In recent weeks the euro has still managed to retain its value despite the crisis that has hit Europe showing the weak spots.
It will be interesting to follow the market trends once mountains take over the reins of the Italian technical government.
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I fear that Monti is unable to straighten the cabin. And 'the euro's real target, and if tedsci not decide to save the boat will sink all