CorpComms Magazine

Beleaguered Italian Prime Minster Silvio Berlusconi has reportedly used Facebook to flatly deny reports of his imminent resignation.

Earlier rumours on Twitter of Berlusconi's exit from Italy's top political job buoyed financial markets by boosting stock and government bonds. The FTSE Milano Italia Borsa rose by up to 2.3 per cent following resignation rumours.

Giuliano Ferrara, editor of Italy's Foglio newspaper and a former minister seen as close to Berlusconi, said on his website: 'That Silvio Berlusconi is about to resign is clear. It is a question of hours, some say of minutes.'

Franco Bechis, deputy editor of the centre-right Libero newspaper, also claimed on Twitter that the notorious PM would resign this Tuesday morning at the latest.

But Berlusconi said on his Facebook page: 'Rumours of my resignation are baseless.'

The PM's rebuttal sent the markets in the opposite direction falling nearly one per cent to a 1.5 per cent gain at at midday.

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