Forex Flash: Italian vote is overwhelming anti-austerity vote - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the Italian election result is a very strong anti-austerity protest which leaves virtually no chance of a workable government being put into place.

With a few more votes to count, he sees that Mr Bersani’s centre-left coalition appears to have won the Chamber of Deputies (the lower house) but no party has a majority in the Senate and patching together a coalition may well be impossible, leading to a new elections, which may not deliver a stable government either.