Sunday, June 3

Italy’s Challenge to the Eurozone Is Only Beginning


Italy’s President Sergio Mattarella, center, addresses journalists on Sunday after a meeting with Giuseppe Conte, in Rome. Conte will be sworn in as Italy’s Prime Minister on Friday.
"So Italy is getting a new populist government after all. On Thursday, the leaders of the anti-establishment Five Star Movement and rightist League emerged from a meeting in Rome to confirm that they had agreed on the composition of a cabinet acceptable to the Italian President, Sergio Mattarella, opening the way for a new administration to be formed. Giuseppe Conte, a previously unknown lawyer whom many people regard as a mere front man, will be sworn in as Prime Minister on Friday. In the short run, the sight of a new government emerging in Rome may bring some calm to the financial markets, which have been rattled by the possibility of another Italian election, and even bigger gains for the populists. Looking further ahead, however, there is great uncertainty surrounding not just Italy but the entire nineteen-nation eurozone. For the first time since it was formed, in 1999, the monetary union will be confronting a government in one of its core member countries that is implacably opposed to many of its rules and policies. ..."
New Yorker
YouTube: Italy's populists reach for power - Five Stars for Rome 25:55, The Five Star Movement and the EU - BBC Newsnight 13:54

2018 January: The Fate of the Party, 2018 March: In Italy Election, Anti-E.U. Views Pay Off for Far Right and Populists, 2018 March: Notes on Italy’s Election, 2018 May: Historically Compromised