SO MUCH for the political chaos in Italy that many predicted would follow the rejection of Matteo Renzi’s referendum on constitutional reform on December 4th. One week later, after Mr Renzi’s resignation as prime minister and a brisk round of high-level discussions, President Sergio Mattarella asked Paolo Gentiloni, the foreign minister in the outgoing government, to head a new one. Mr Gentiloni (pictured) will need to get parliament to approve his cabinet. But since his centre-left Democratic Party (PD) and its right-wing allies together command majorities in both chambers, there is little reason to believe he will fail.
In the past negotiations on forming Italian governments have often been lengthy and convoluted. This time several factors created a sense of urgency. Mr Mattarella wanted a prime minister in time for the meeting on December 15th of the European Council, which brings together the leaders of European Union states. More important, a government is urgently needed to handle the crisis unfolding at Italy’s third-largest bank, Monte dei Paschi di Siena (MPS). It emerged on December 9th that the European Central Bank had refused to extend an end-of-year deadline...Continue reading
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