Political risks are on the rise again in Italy after Silvio Berlusconi threatened to pull his backing for Prime Minister Mario Monti's technocrat government, brought in last November to impose austerity measures . Berlusconi's threat came after he was convicted of tax fraud last week.
Prime Minister Mario Monti was appointed last year and is responsible for tough austerity measures that have earned him both praise and scorn.
Former European Commissioner Mario Monti's first day on the job. After a weekend of frenetic activity in Italy, President Giorgio Napolitano appointed Monti as head of a new government on Sunday. Now Monti has to hold talks with the main politicial parties and appoint what's expected to be a relatively small cabinet. His technocrat government will have its work cut out.
Italy's Silvio Berlusconi threatens to bring down Mario Monti's technocratic government, a day after receiving a jail sentence for tax fraud.
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