Napolitano Extends Italy Impasse as Cyprus Tallies Losses

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Italy’s political impasse extended into a second month as a 10-man committee named by President Giorgio Napolitano started work on building consensus toward a new government before his term expires in six weeks.

“We will try to at least create more favorable conditions to unblock a political situation hardened by irreconcilable positions,” Napolitano saidBloomberg Terminal today after meetings in Rome with the advisers he appointed on March 30. Italy’s divided parliament, the result of inconclusive elections on Feb. 24-25, must also come together behind a successor to the 87-year-old head of state before his mandate ends May 15.