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Italy still without a government

FXstreet.com (Barcelona) - Center-left Italian leader Pier Luigi Bersani, who was asked last week by president Giorgio Napolitano to form a government, said on Thursday that he was unable to complete the task.

Bersani, whose Democratic Party won the most votes in the Italian general election in February but failed to secure a viable majority, held talks with Beppe Grillo’s 5-Star Movement as well as other political parties on a possible coalition, but no agreement was reached.

The head of the Democratic Party explained that other political leaders put forward “objections and conditions” which he could not accept. Bersani himself rejects the possibility of creating a “grand coalition” with Silvio Berlusconi’s center-right party.

President Giorgio Napolitano said that he would “immediately” look at other options of setting up a new administration. This could mean that a new Prime Minister will be nominated shortly. The Italian president is due to hold consultations with leaders of political parties throughout Friday.

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