Italian '10 wise men' to seek way out of deadlock

FXstreet.com (Barcelona) - Italian president Giorgio Napolitano will hold meetings today with a group of advisors comprised of center-right and center-left politicians, the president of the constitutional court and a central bank official, in an attempt to break the political stalemate into which the country has sunk after the inconclusive general elections in February.

The task of the so-called “10 wise men” is to formulate precise policy proposals that can become a target shared by political forces,” according to the president's office. These include establishing measures to support economic reforms such as modifying the electoral law and reducing the costs of the political system.

According to a presidential spokesman the talks are "absolutely informal, purely reconnaissance, and have obvious time limits."