Reuters - Video

EDITION: U.S. | U.K. | IN

Video

Frustration as Italy fails to elect President

Thursday, Apr 18, 2013 - 02:09

April 18 - Italy's parliament has failed to elect a new state president in its first round of voting. As Sonia Legg reports, the first important move towards resolving the country's political stalemate could take days.

▲ Hide Transcript

View Transcript

A crucial step in a long process has begun. Italy's parliament is voting for a new President. Without one the country can't move forward. It's now two months since elections failed to produce a new leader. James Walston is a Professor of Political Sciences at Rome's American University. (SOUNDBITE) (English) JAMES WALSTON, PROFESSOR OF POLITICAL SCIENCES AT THE AMERICAN UNIVERSITY OF ROME, SAYING: 'When there is a new president then that president will be able to negotiate from a position of strength. He or she will able to say. "If you don't get a government then I will dissolve parliament." But for the same reasons that it's difficult to get a president and it has already been impossible so far to find a government, those underlying problems are not going to be solved by electing a president.' There's plenty of frustration about the complicated political system in Italy. The first round of voting proved inconclusive - further rounds could last into the weekend. It's all adding to investors concerns, says Jeff Munroe Head of Global Equities at Newton (SOUNDBITE) (English) JEFF MUNROE, HEAD OF GLOBAL EQUITIES, NEWTON, SAYING: "Deadlocks in politics don't necessarily mean bad things. it does seem however that Italy does need to makE some substantial decisions about its public finances and a good government does help to make those decisions." Former Senate Speaker Franco Marini is the favoured candidate Officially, the 80-year-old has the support of Pier Luigi Bersani's centre-left alliance and Silvio Berlusconi's centre-right party. But he has little public backing and lost his seat in the election. Many of Bersani's own Democratic party also suspect a deal has been made with Bersluconi. Giuseppe Civati is one of them. (SOUNDBITE) (Italian) DEMOCRATIC PARTY PARLIAMENTARIAN GIUSEPPE CIVATI SAYING: "We can't speak of a government of change and then construct a political reality that chooses the right pieces in order for Berlusconi to agree with it." The Presidential position is - in fact - largely ceremonial. But the few functions it does have are vital. The outgoing President Giorgio Napolitano was responsible for creating the last technocrat government under Mario Monti. That move in 2011 calmed the markets - if a new President isn't selected soon there are fears the calm could wear off.

Frustration as Italy fails to elect President

Thursday, Apr 18, 2013 - 02:09

Top News »

Most Popular »

Money »

S&P 500 to new record on improving economy S&P 500 to new record on improving economy

Fri, Aug 29, 2014 - (2:31)

Finding meaning in the S&P 500 2000 mark Finding meaning in the S&P 500 2000 mark

Mon, Aug 25, 2014 - (2:35)

S&P falls back from record high S&P falls back from record high

Fri, Aug 22, 2014 - (1:35)

S&P 500 closes at new high S&P 500 closes at new high

Thu, Aug 21, 2014 - (1:24)

S&P 500 just shy of record S&P 500 just shy of record

Wed, Aug 20, 2014 - (2:23)

Apple hits $100 a share Apple hits $100 a share

Tue, Aug 19, 2014 - (2:06)

Nasdaq closes at 14-year high Nasdaq closes at 14-year high

Mon, Aug 18, 2014 - (2:23)

Putin puts Wall Street in buying mood Putin puts Wall Street in buying mood

Thu, Aug 14, 2014 - (2:10)

We've become a promotional culture-RetailMeNot's Bodge We've become a promotional...

Thu, Aug 14, 2014 - (4:39)

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, Jul 16, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, Jun 25, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, Jun 02, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, May 27, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, May 08, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, May 05, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, Apr 08, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, Mar 24, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, Mar 17, 2014 - (7:38)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)