Forex News – Berlusconi to run for office for the fourth time

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Ex-Prime minister of Italy, Silvio Berlusconi is about to stage a political comeback by running for Prime Minister for a fourth time in Italy’s next elections.  In November 2011, Berlusconi was ousted from office as his country’s economy was plunging into debt and Italian bonds were falling. He was criticized for his handling of the economy amid fears that Italy was being swept up in the euro zone crisis.

Technocrat and professional economist Mario Monti took over the herculean task of turning the economy around, but many believe he has failed. Mr Monti’s mandate runs out next year and elections are expected sometime in the Spring. 75-year old Berlusconi is taking the chance to run again and believes many Italians still support him.

The billionaire businessman believes he has a good chance of winning office, despite all the sex scandals, corruption trials. Berlusconi made the term “bunga bunga” legendary and it has marred his reputation both domestically and internationally.

The media mogul has been studying voter intention surveys in the past few weeks and has come to the conclusion that his party, known by its Italian acronym as the PDL, can only win with him at the helm, according to Italian paper Corriere della Sera.

“He has spent the last few weeks studying the polls, analyzing the various scenarios for the 2013 vote, listening to allies within the PDL, as well as businesspeople and international contacts. At the end of it all the decision was made – Berlusconi will offer himself again as a candidate for prime minister,” the daily newspaper reported.

While Berlusconi will be working hard on his re-election strategy, he is currently on trial in Milan on charges of abuse of office and paying for sex with a teenage erotic dancer whom prosecutors claim was working as an underage prostitute. He has denied both charges and is expected to give evidence in court on Oct 5.