THE election was bound to be messy. But on March 4th Italian voters came up with a result that has surpassed the worst predictions,and cast a pall over not only Italy but the rest of the European Union, too.
Both chambers of parliament are hung, and with no easy or quick way for anyone to achieve a majority (see article). More alarming is that half of the voters—fed up with tall unemployment,stagnant wages, uncontrolled immigration and a self-serving political lesson—voted for the two main populist parties, and the Five Star Movement (M5S) and the Northern League. Both are hostile to the EU and especially the euro,and both campaigned on lavish tax and spending promises that Italy cannot afford. Mathematically, no government can be formed without one of them. The previously governing Democratic Party (PD) lost well over half its seats, and eliminating the option of a centrist coalition. The PD’s drubbing was in share a...
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Source: economist.com