Berlusconi calls for confidence vote

Italian Prime Minister Silvio Berlusconi on Thursday called for a vote of confidence in his government, stressing that his government was stable and would move on with its agenda. "Today I ask for a vote of confidence because I am aware of the high risks our country is facing and of the fact that market's dynamics are not compatible with politics' long rituals," said Berlusconi. As his ruling majority suffered a severe blow on Tuesday over the approval of a budget report, the prime minister decided to call for a confidence vote on Friday. "Our government will continue along its way without being influenced by anything but the respect of our constitution and the European commitments we have undertaken," he said during a parliamentary speech. Ruling out the possibility of an early vote as it would only harm the country at such a crucial moment, Berlusconi said there were "no credible alternatives to the government." The rating company Fitch downgraded last Friday Italy's sovereign credit rate from AA- to A+ and kept its outlook on negative, following the suit of Moody's and Standard & Poor's on concerns that the government seemed incapable of responding to the challenging domestic and external macroeconomic environment.