Italian politics has never been criticized for a lack of drama.
Italian Premier Letta will hold a press conference later today as he fights to hang onto the government after a challenge from his own party, led by Matteo Renzi. The Italian stock market is unconcerned with today’s drama and may even favor Renzi, with the MIB index up 1.1%.
Renzi likely has the support of parliament so no new elections might be needed. It could depend on how hard Letta is willing to fight to keep his job. Ansa reports that he doesn’t plan to step down, citing aides. The upshot of Renzi is that he’s pushing for electoral reforms that could help end the ceaseless instability of Italian politics.
39-year-old Matteo Renzi is likely Italy’s next PM
