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Italian result vital for Europe's future

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Italian result vital for Europe's future This is Cornwall --

Italy went to the polls yesterday and continues voting today for a watershed parliamentary election that could shape the future of one of Europe's biggest economies.

Fellow EU countries and investors are watching closely, as the decisions that Italy makes over the next several months promise to have a profound impact on whether Europe can decisively put out the flames of its financial crisis.

Greece's troubles in recent years were enough to spark a series of market panics. With an economy almost 10 times the size of Greece's, Italy is simply too big a country for Europe, and the world, to see fail.

Leading the electoral pack is Pier Luigi Bersani, a former communist who has shown a pragmatic streak in supporting tough economic reforms spearheaded by incumbent Mario Monti.

On Mr Bersani's heels is Silvio Berlusconi, the billionaire media mogul seeking an unlikely political comeback after being forced from the premiership by Italy's debt crisis.

Mr Monti, while widely credited with saving Italy from financial ruin, is trailing badly as he pays the price for the suffering caused by austerity measures.

Then there's the wild card: comic-turned-politician Beppe Grillo, whose protest movement against the entrenched political class has been drawing tens of thousands to rallies in piazzas across Italy. Reported by This is 14 hours ago.

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