Fast-approaching German elections are a bigger risk to Italy's stability than Silvio Berlusconi's potential expulsion from the country's political landscape, an Italian CEO told CNBC.
"What is going on at a political level in Italy is not really distracting... Italy has always got to the brink of destruction and has pulled itself back," Arrigo Berni, chief executive of notebook maker Moleskine, told CNBC this week.
"I'm concerned much more with what's going on in our economy worldwide, honestly, and the fact that we have the German elections in a few weeks. For the country as a whole and for Italian citizens, decisions that are going to be made after the German elections in Frankfurt or Brussels are going to be much more important," he added.
(Read more: German elections are a 'close call': Merkel)
Chancellor Angela Merkel is expected to win a third term of office in the September 22, with the latest Forsa poll giving her Christian Democrat coalition a 14 percent lead over Peer Steinbrueck's Social Democrats. She has been seen as pivotal in pushing for economic reforms in Italy -- although a number have proved so unpopular that they have been reversed or rejected this year by the coalition government, causing consternation among investors.
"Markets might worry that the probability of seeing a sustained reform drive to boost dim growth prospects is likely to stay rather low – at least as long as the political situation remains so uncertain," Daniele Antonucci, senior economist at Morgan Stanley, said on Wednesday.
Italy faces significant political upheaval if former prime minister Silvio Berlusconi, who was convicted for tax fraud in August, is expelled from the country's upper house of parliament.