Italian Elections Produce Murky Result, Financial Jitters | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Italian Elections Produce Murky Result, Financial Jitters

As Italy's elections results came in Monday, the country appeared headed toward political gridlock, a development that rattled financial markets hoping for a clear result.

A center-left coalition, headed by Pier Luigi Bersani and favored in pre-election polls, looked like it would win the lower house of Parliament, according to partial results.

But in a surprise, the center-right grouping, headed by the former prime minister, Silvio Berlusconi, appeared to be ahead in the upper house.

And NPR's Sylvia Poggioli reported from Rome that there were other surprises as well:

"The wild-card 5 Star Movement, headed by comedian turned politician Beppe Grillo, is doing better than expected and may become the biggest single party.

"TV network anchors and guests appeared confused and rattled by projections that conflicted with earlier exit polls in a country where many people are hesitant to reveal exactly who they're voting for."

Financial markets were hoping for clarity in how the Italian government would deal with its ongoing economic problems. But the murky result suggested the country will have trouble forming a stable government and could be facing political paralysis.

This made markets jumpy on Monday. Italian stocks were up sharply initially, but then retreated. In the U.S., the Dow Jones lost 216 points, or 1.55 percent. It was the biggest decline so far this year and was linked to the inconclusive Italian election results.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

100 Years Ago, 'New Republic' Helped Define Modern Liberalism

Robert Siegel speaks with The New Republic editor Franklin Foer about the new book Insurrections of the Mind, a collection of seminal essays from the magazine's first 100 years.
NPR

Edible Packaging? Retailers Not Quite Ready To Ditch The Wrapper

To reduce waste, some enterprising companies are trying to roll out products that make the package part of the snack — edible packaging. But selling it to the retail market is trickier than it seems.
NPR

Obama Gives New Details On America's Effort To Fight Ebola

The Obama administration's plan reportedly includes having the Department of Defense shift $500 million in funding to fight the Ebola epidemic
NPR

The Kaypro II: An Early Computer With A Writer's Heart

Commentator Andrei Codrescu remembers the first word processor he had — the Kaypro II in the 1980s. Its inventor, Andrew Kay, died August 28, at the age of 95.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.