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Watch The Italian Parliament 2010 Budget Vote Live

Tyler Durden's picture




 

As was noted previously (here and here), today's Italian parliament vote on the 2010 Italian budget (yes, like the US they are almost up to date with real time running budgets) will be of notable significance for Berlusconi, Italy, its sovereign bonds and Europe. And the vote has just been open by the Assemblea speaker.

And for those curious, below is Reuters with a list of the top candidates to replace Silvio should the career politician be so brazen as to actually step down and lose parliamentary immunity right into the arms of a loving public.

 GIANNI LETTA

If Napolitano chose a candidate who reflects the center-right majority produced by the 2008 election, Berlusconi's cabinet undersecretary, Letta, would be among frontrunners. Smooth and reserved, the 76-year-old Letta is seen as Berlusconi's right hand man and one of the ultimate backstage fixers of Italian politics. He is widely respected but may face opposition from leaders of other parties who have said they will not back a government led by a figure so close to the Berlusconi camp. Letta graduated in law and has a background in journalism. Often mentioned by Berlusconi as a possible president of the republic.

 ANGELINO ALFANO

Previously identified by Berlusconi as a favored successor, the 41-year-old Sicilian is currently secretary general of the PDL party, after stepping down as justice minister in July. Dismissed by critics as a Berlusconi acolyte who has happily backed the prime minister's war against the judiciary and magistrates, he has few loyalists of his own in a party built entirely around its founder. Youthful by Italian standards, Alfano became the youngest justice minister in Italy's history when he took the post in May 2008. Soon afterwards, he crafted a law sheltering Berlusconi from trials that was later scrapped by the Constitutional Court.

MARIO MONTI

Widely seen as favorite to lead a technocrat government with a mandate to push through economic reforms. A distinguished economist and former European competition commissioner, 68-year-old Monti is currently the president of Milan's Bocconi university and honorary president of Bruegel, a European economic policy think-tank he set up in 2005. Has contributed a stream of newspaper articles over the past months criticizing Berlusconi and proposing sweeping reforms of Italy's hidebound economy.

OTHER KEY PLAYERS

GIORGIO NAPOLITANO

Italy's head of state is guarantor of national unity and the constitution. When a government is defeated or resigns, it's the president's duty to consult party leaders and appoint a new leader to try to build a majority in parliament. Italy's most respected political leader, the 86-year-old former communist Napolitano has made repeated calls for reform in recent months as Italy's debt crisis and political turmoil have deepened and he has been increasingly open about the possibility of a broad-based government of national unity.

UMBERTO BOSSI

The fiery leader of Berlusconi's key ally the Northern League called on Berlusconi to step aside on Tuesday and let Alfano take over as prime minister. He could play a crucial role in deciding the shape of the new government, based on whether he is willing to re-form a coalition with the PDL. As Berlusconi's support has crumbled, his relations with the League have cooled, hitting a low point over a plan to reform pensions, much of which the League fiercely opposes.

PIER FERDINANDO CASINI

The leader of the centrist UDC party could play a critical role based on whether he supports a newly formed government. He has said he wants a broad unity government to be formed including representatives from the main opposition Democratic Party PD, the UDC and Berlusconi's PDL party.

LUCA CORDERO DI MONTEZEMOLO

The 64-year-old boss of Ferrari has become an increasingly outspoken critic of the Berlusconi government and has urged fundamental reforms in Italy. He founded the Italia Futura association of business and cultural leaders in 2009 aimed at encouraging civil debate and political renewal in Italy. He has been identified in the media as a possible future leader of the country but has kept quiet when asked about possible political forays.

ALESSANDRO PROFUMO

The former head of Italy's largest bank Unicredit is another senior business leader who could have a role in a future caretaker government.

 

 

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Tue, 11/08/2011 - 11:19 | 1856365 Dr. Engali
Dr. Engali's picture

I'd like to see a big old fist fight break out. The India and Japanese parliaments are much more fun to watch. The know how to have a good brawl. Europeans are too uptight.

Tue, 11/08/2011 - 11:20 | 1856386 YesWeKahn
YesWeKahn's picture

The US stock market likes this, buyers are bidding up almost 2/3 of the stocks.

Tue, 11/08/2011 - 13:50 | 1857059 cricri
cricri's picture

Hi Tyler, what link did you used to access the tv stream? Thanks

Tue, 11/08/2011 - 15:19 | 1857637 gianmarco
gianmarco's picture

"happily backed the prime minister's war against the judiciary and magistrates"

 

sorry Tyler, this is really wrong. it is actually quite the opposite. large part of the italian judiciary openly declare itself to be on leftist positions and some even proudly declare to be communist, partecipate to Italian Communist Party events as speakers and openly declare to be on  a quest to rid italy of Berlusconi.

B and his companies have been the target of hundreds of search warrants, and just even reading the accusations against B will quickly clarify what sort of BS prosecutors come up with in order to start action against him. they are increasingly getting so desperate that they even start trials with B as plaintiff in order to be able to continuosly subpoena him to testify in court.

or how about this?

http://www.corriere.it/International/english/articoli/2011/07/11/mondado...

a totally bogus allegation from de benedetti, an enemy of B, trasformed in a sentence by the crazy italian judiciary.

B is no saint, but if there is a war, is surely not B waging it on the judiciary.

Do NOT follow this link or you will be banned from the site!