The leader of Italy’s main business lobby has urged squabbling politicians to form a coalition government or risk condemning the country to prolonged economic recession.
Giorgio Squinzi, head of Confindustria, said the deadlock had cost the eurozone’s third-largest economy about 1 per cent of output after a fall of 2.4 per cent last year.
After the country’s highly fragmented parliament failed to either form a government or to agree on a president to find a solution to the political crisis, 87-year-old Giorgio Napolitano on Saturday accepted a second mandate as head of state.
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