程序员招聘很难吗:BBC News Italy's Berlusconi faces key vote amid economy fears

8 November 2011 Last updated at 07:28 GMT

Italy's Berlusconi faces key vote amid economy fears

Global Economy

• What's the matter with Italy?
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• Eurozone crisis explained
• Euro deal at a glance

Italy's PM Silvio Berlusconi is facing a crucial vote on the budget, amid fears that Italy could be the next victim of the eurozone debt crisis.

Borrowing costs for Italy's government have soared because of fears it may be unable to repay its huge debts.

On Monday, Mr Berlusconi, who has survived dozens of confidence votes during his tenure, dismissed reports he planned to resign.

Meanwhile, European finance ministers are due to meet in Brussels for talks.

Concerns over Italy are overshadowing developments in Greece, where political leaders are wrangling over the formation of a new unity government to impose austerity measures in return for international loans.

Italian lawmakers were expected to gather at about 1500 GMT on approving the Italian state financing bill, usually a procedural vote but one which has come sharply into focus amid the current debt crisis and a reported rebellion by some Berlusconi supporters.

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While a defiant Mr Berlusconi on Monday dismissed talk of his possible resignation as "baseless", Italian media report that he is to make a decision on his next steps after the result of the budget vote.

Stock markets across Europe bounced up on the chance of the Italian premier's departure but returned to negative territory at Monday's close.

While Italy's deficit is relatively low, investors are concerned that the combination of Italy's low growth rate and 1.9tn euro ($2.6tn) debt could make it the next to fall in the eurozone debt crisis.

Italian 10-year bond yields rose to a euro-era high of 6.67%, with markets viewing Italy's ability to repay its debt as increasingly doubtful.

There is speculation that Mr Berlusconi no longer has a majority in parliament, after reports that some MPs from his government have defected.

Mr Berlusconi has remained defiant, insisting that his government has all the support it needs.

Tuesday's vote in numbers

• 630 seats in Italy's chamber of deputies
• Berlusconi needs 316 votes for budget report to pass
• At least nine deputies from Berlusconi's own party have defected or said they will rebel
• Italian media report as many as 20 will vote against
• Berlusconi survived 14 October confidence vote by 316 votes to 301

• Profile: Silvio Berlusconi

"I don't understand how rumours of my resignation are circulating," Mr Berlusconi was quoted as saying by Libero newspaper.

But if Mr Berlusconi were to lose the budget vote then it is hard to see how he could continue in power for long, says the BBC's Alan Johnston in Rome.

Our correspondent says it is certainly worth remembering that Mr Berlusconi is a master deal-maker and political infighter, having survived more than 50 confidence motions in the past.

But this crisis is different as it goes beyond Italian politics - it is instead linked to the international money markets, which have lost faith in Mr Berlusconi's ability to fix Italy's economy, our correspondent says.

The markets are now forcing this country to pay interest rates that could eventually ruin it, which means the pressure on Mr Berlusconi is extraordinary, he adds.

Mr Berlusconi has been the dominant figure in Italian politics for the best part of two decades, but lately his approval rating has hit a record low of 22%.

Notwithstanding the effects of the debt crisis, the multi-billionaire leader is currently a defendant in three trials for bribery, tax fraud, abuse of power and paying for sex with a 17-year-old girl.

On Monday, finance ministers from the eurozone met in Brussels to push ahead with a deal put together late last month.

After their meeting they called on the new government of Greece to approve in writing the terms of the international bailout in exchange for the release of the next tranche of funds.

They also said they welcomed the monitoring of Italy to reassure the markets, and said they were seeking further clarification of when it would pass the economic reforms it has promised.

The European Union's Economic Affairs Commissioner Olli Rehn said he wanted answers from Italy by the end of the week.

"It is essential now that Italy will stick to its fiscal targets, ensure their implementation and intensify the structural reforms that can boost growth," he said on Monday.

On Tuesday, finance ministers from all 27 EU countries will meet.

However, the BBC's Europe correspondent, Chris Morris, understands there will be no agreement on details of the expanded European Financial Stability Facility (EFSF) bailout fund.

Leaders have agreed in principle to boost the EFSF from its current 440bn euros (￡375bn) to 1 trillion euros, in order to tackle debt problems in Italy and Spain.

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