Italian president to speak with Bersani on possibilities of forming a coalition

FXstreet.com (Barcelona) - Italian Center-left Democratic Party chief Pier Luigi Bersani is due to hold a meeting with President Giorgio Napolitano later today in order to discuss the possibilities of forming a government and breaking the political deadlock the country has found itself in after the inconclusive general election in February.

It will be a very difficult task however, as Pier Luigi Bersani has already declared that he is unwilling to form a coalition with Silvio Berlusconi’s center-right People of Freedom party, while Beppe Grillo, leader of the populist Five-Star Movement, rejected cooperation with any of the main parties.

According to Jamie Coleman from FxBriefs.com there is no “certainty that a government will be formed, but it would be a clear short-term plus for the euro if both Cyprus and Italy are taken off the table as immediate risks.”