ITALY ELECTIONS TODAY!!
As it is an important election that took place in Italy, and the results will not be known until tomorrow morning. It has been the worst turnout since before WWII. However, polls early this morning pointed to a solid victory by the party friendliest to EU reforms. Pier Luigi Bersani’s center-left Democratic
It appeared that the race was much closer. The center-left party (which supports reforms) and the center-right party appear to be nearly even, and the third place party gathered much more support than expected. It will be very difficult to establish a coalition government when no party has a majority, and another election may be required. What’s clear is that there is significant resistance in Italy to austerity measures, and investors are concerned that the third largest economy in the EU may scale back reform measures.
Tomorrow will be a big day. The Italian election results will be one major story.