Yield on Italian 10-year bonds drops to 2006 low
Markets optimistic about a Renzi premiership17 February, 13:31
Markets have been optimistic since Matteo Renzi, head of the center-left Democratic Party (PD), became the likely successor to outgoing Premier Enrico Letta, whose own party voted to oust him Thursday amid disappointment for not moving swiftly enough to enact political and economic reforms. The Milan bourse rose to its highest level since July 2011 Friday on the prospect of business-friendly Renzi becoming Italy's new premier.
After receiving a government-formation mandate on Monday, Renzi vowed to complete electoral reforms by the end of February, followed "immediately afterward by labor reforms in March, public-administration reforms in April and fiscal (reforms) in May".