Debt fears rise as Italian prime minister wins confidence vote

italy-sunset

Italy's prime minister, Silvio Berlusconi, will face the difficult task of spearheading the country's fiscal consolidation effort after narrowly winning a vote of confidence in parliament in Rome on Friday.

Berlusconi's victory in Italy's lower house, which saw him receive the backing of 316 ministers compared to 301 members who voted against him, will see the prime minister hold on to power until elections expected in 2013.

There are increasing concerns that Italy may be shut out of debt market

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