• Berlusconi found guilty of abuse of office in underage prostitution case
  • Guilty of paying for sex with a minor
  • Sentenced to 7 years in jail, banned from holding public office for life
  • Ruling not effective pending appeal

Berlusconi is ahead in Italian polls after promising to unwind austerity. Surely he will say the case was politically motivated and appeal.I believe he has at least two appeals left before any sentence would apply.

No immediate reaction from the Italian bond market.