Well, it’s not going to be very special but it should furnish you with the information you need.
The political scene in Italy is quite a mess with the majority of parties all tied up in coalitions.
The main runners.
Pier Luigi Bersani
Silvio Berlusconi
Mario Monti
From a trading perspective the market is hoping for Bersani win. He follows the same general policy lines as Monti. Should he fail to get a majority he will likely enter a coalition with Monti.
The market is pretty much discounting a Berlusconi win but any boost to his popularity in the polls could take a shine off a Bersani win.
There have also been stories of decent gains for the smaller parties such as the Five star movement led by Beppe Grillo who has called for a referendum on Italy’s euro membership. He is a comedian who campaigns out of a camper van.
The risk is that these smaller parties gain a bigger presence thus lowering the main parties numbers leading to more coalitions.
The definitive risk to the euro is that we have an inconclusive result. This would probably lead to a bigger sell off in the market than a Berlusconni win.
Bear in mind that there is a black out on the elections so news stories are likely to be speculation rather than fact.
As usual ForexLive will be keeping you up to date with the news over the weekend
I had a summary of the election times and exit polls which I’m struggling to find. The polls open on Sunday 24th and run through Monday. If memory serves me well I think the first numbers starts coming in from 14.00 Italy time. Once I’ve found out for definite I’ll add them in.
A great big special thanks to Mr Sevy for the exact details of timings for the elections.
We will vote sunday from 8.00(am) to 22.00 (10pm) and monday from 7.00(am) to 15.00 (pm). Exit polls starts monday 3.00 pm. We will have the results for the senate first. Final results are expected around midnight.
