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| Italy election: Early vote count points to impasse | Italy election: Early vote count points to impasse |
| (35 minutes later) | |
| Early results from Italy's election suggest the houses of parliament may split between left and right, causing new anxiety in the eurozone. | Early results from Italy's election suggest the houses of parliament may split between left and right, causing new anxiety in the eurozone. |
| Projections suggest Pier Luigi Bersani's centre-left bloc has a narrow lead in the lower house while Silvio Berlusconi's centre-right is ahead in the powerful Senate. | |
| A protest movement led by comedian Beppe Grillo surged into third place. | |
| The election comes amid a deep recession and tough austerity measures. | The election comes amid a deep recession and tough austerity measures. |
| It marks a return to full-blown democracy for Italians after the technocratic government of Mario Monti whose attempts to reduce spending caused widespread public resentment. | It marks a return to full-blown democracy for Italians after the technocratic government of Mario Monti whose attempts to reduce spending caused widespread public resentment. |
| Milan's stock market soared nearly 4% when exit polls suggested a clear Bersani victory - but lost nearly all of its gains when projections began to show Mr Berlusconi winning a sizeable vote. Italy's 10-year borrowing cost fell but then rose again to close slightly higher at 4.49%. | Milan's stock market soared nearly 4% when exit polls suggested a clear Bersani victory - but lost nearly all of its gains when projections began to show Mr Berlusconi winning a sizeable vote. Italy's 10-year borrowing cost fell but then rose again to close slightly higher at 4.49%. |
| It was market pressure, with a borrowing cost of well over 6%, that forced Mr Berlusconi to resign as prime minister in late 2011. | It was market pressure, with a borrowing cost of well over 6%, that forced Mr Berlusconi to resign as prime minister in late 2011. |
| Correspondents say Italy's EU partners and the financial markets want to see a stable outcome to the election, with a commitment to reform and debt-reduction. | Correspondents say Italy's EU partners and the financial markets want to see a stable outcome to the election, with a commitment to reform and debt-reduction. |
| The BBC's Europe editor, Gavin Hewitt, says Brussels and Berlin would like to see Mr Bersani form a governing coalition with Mr Monti. | The BBC's Europe editor, Gavin Hewitt, says Brussels and Berlin would like to see Mr Bersani form a governing coalition with Mr Monti. |
| They fear that an uncertain outcome could lead to Greek-style paralysis in the eurozone's third largest economy, he says. | They fear that an uncertain outcome could lead to Greek-style paralysis in the eurozone's third largest economy, he says. |
| A leading figure in Mr Bersani's party has said a new election may need to be called in order to form a stable government. | A leading figure in Mr Bersani's party has said a new election may need to be called in order to form a stable government. |
| 'No stable government' | 'No stable government' |
| As the official count got under way, exit polls forecast 34.5% for Mr Bersani's centre-left bloc in the lower house (Chamber of Deputies). | As the official count got under way, exit polls forecast 34.5% for Mr Bersani's centre-left bloc in the lower house (Chamber of Deputies). |
| Mr Berlusconi's bloc was being given 29%, Mr Grillo's Five Star Movement 19% and the centrist list led by Mario Monti 9.5%. | Mr Berlusconi's bloc was being given 29%, Mr Grillo's Five Star Movement 19% and the centrist list led by Mario Monti 9.5%. |
| Hours later, a Piepoli Institute projection for the state broadcaster Rai cut Mr Bersani's lead in the lower house to just 0.5% (29.1% to 28.6%). An IPR projection had the Bersani bloc 1% ahead. | |
| Mr Bersani was also projected initially to win a majority in the Senate, where seats are decided region by region. | |
| However, later projections suggested Mr Berlusconi's bloc was ahead in the key swing regions. | |
| Control of both the lower and upper houses of parliament is needed in order to govern. | Control of both the lower and upper houses of parliament is needed in order to govern. |
| Mr Bersani has pledged to continue with Mr Monti's reforms but suggests current European policy needs to do more to promote growth and jobs. | Mr Bersani has pledged to continue with Mr Monti's reforms but suggests current European policy needs to do more to promote growth and jobs. |
| The election was called two months ahead of schedule, after Mr Berlusconi's party withdrew its support for Mr Monti's government. | The election was called two months ahead of schedule, after Mr Berlusconi's party withdrew its support for Mr Monti's government. |
| Speaking on Italian public TV, Mr Bersani's economics spokesman, Stefano Fassina, said: "The scenario from the projections we have seen so far suggests there will be no stable government and we would need to return to the polls." | Speaking on Italian public TV, Mr Bersani's economics spokesman, Stefano Fassina, said: "The scenario from the projections we have seen so far suggests there will be no stable government and we would need to return to the polls." |
| Are you in Italy? Did you vote? You can share your thoughts and experiences using the form below. | Are you in Italy? Did you vote? You can share your thoughts and experiences using the form below. |