Miguel Navascués | Giorgia Meloni’s election victory is a new warning to the errors of European bureaucracy, to the stiff Commission, to the false and undemocratic Parliament, and to the no less disoriented European Central Bank. Italy is fed up. It is fed up with this Europe, it is fed up with the Euro (which, it thinks, prevents it from growing with dignity and makes it long for its Lira,…
The coalition of conservatives, post-fascists and populists, led by Giorgia Meloni, won 44% of the votes in both Congress and the Senate, with 96% of the votes counted. “It is the time of responsibility, we will govern for all Italians”, said the very possible future prime minister after an election with a historic abstention rate. With a turnout of 63.9%, Giorgia Meloni’s Fratelli d’Italia had 26.2% of the vote, Enrico…
“Markets may well be in for another Italian surprise”. Deutsche Bank’s analysts do not make this claim lightly. On their reading of the admittedly ambiguous data, they believe the anti-establishment Five-Star movement may only be a normal polling error away from being able to block the formation of any realistic, broadly centrist, pro-European government.
The Corner | June 1, 2015 | Italian risk premium (136.5 bp) should probably come down and be lower than the Spanish one (135 bp) this week despite PM Matteo Renzi’s set back in the country’s regional elections on Sunday, experts at Bankinter commented. (Chart above: Italy Generic Govt 10Y Yield by Bloomberg.)
MADRID | Ignoring that Italians have given support to political programmes contrary to current austerity policies would be a temerity.
MADRID | Peter Garnry, analyst at Saxo Bank: “The true irony of this story is that these political voids, as now in Italy, have often generated periods of economic calm and even growth.”
MADRID | In Italy, as in other southern eurozone countries, citizens cannot believe there will be light at the end of the austerity tunnel.
By Marcus Nunes, economist and author | If you followed the results of the Italian general election, you would probably be wondering: what will happen to the “growing investor confidence” the European Commission was talking about?