Europe

Europe

Italy’s Berlusconi loses majority in confidence vote

08 November 2011 18:04 (UTC +04:00)

Baku-APA. Italian Prime Minister Silvio Berlusconi lost his majority in the lower house of parliament in a crucial vote on a financial bill on Tuesday, APA reports quoting Xinhua.

Berlusconi won a vote on the budget, but received less than half the votes in the chamber, as total of 308 deputies voted in favor and one abstention, which means that the vote was approved but below the 316 needed for a majority in the 630-seat house.

Although the opposition did not vote on the measure, many deputies from the premier’s own coalition defected ahead of the vote.

On Tuesday Berlusconi’s leading political ally asked the premier to resign ahead of the vote."We asked him to step aside," Umberto Bossi, leader of the conservative Northern League party in the ruling coalition said outside parliament.

Berlusconi is under growing pressure to resign as the international markets lose confidence in the country’s ability to reform amid mounting finance problems.

Its crisis intensified on Tuesday morning as yields of Italy’s 10-year bond peaked at 6.74 percent in record high.