Election in Italy: Country plunges into obscurity after far-right victory

Giorgia Meloni and her post-fascist party Fratelli d’Italia came out on top in the partial results of Sunday’s elections. Together with the League and Forza Italia, it will have an absolute majority in the House of Representatives and the Senate.

A slow vote count confirmed Ms Meloney’s clear lead on Monday morning with more than 26% of the vote. His party is now the first political formation in the country, ahead of Enrico Letta’s Democratic Party (PD, center left) with 19%. Together with the League and Forza Italia, it will have an absolute majority in the House of Representatives and the Senate.

In her first and brief statement after the vote, Giorgia Meloni sought reassurance in Italy and abroad, where French Prime Minister Elisabeth Borne warned that France would be “careful” in “respecting” men’s and abortion rights. “We will rule for all,” the Italians assured Georgia Meloni. Let’s do this to bring people together.

A “Historic Victory” for the Far Right

The right-wing press rejoiced on Monday. “Revolution at the Ballot Box”, headlined Il GiornaleDaily life of the Berlusconi family Libero Noted: “Struck left, (we are) freedom!!! “.

“Meloni takes over Italy”, wrote the other side Republic of LaA left-wing newspaper that confronted Georgia Maloney head-on during the campaign. La Stampa Details of the “thousands of unknowns” Italy faces after the far-right’s “historic victory”.

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“It’s a coincidence that it happened a month before the centenary of the March on Rome and the start of Mussolini’s 20-year dictatorship: Italians who voted for Meloni did not do so out of nostalgia for fascism” But the common point between fascists is the autocrat and Ms. A Turin newspaper analyzed that Meloni came to power “at the end of a lonely marathon against everything and everyone”.

Economic challenges

The new executive will succeed from January 2021 a national unity cabinet headed by Mario Draghi, the former head of the European Central Bank (ECB), called to the bedside of the third economy in the euro zone brought to its knees by the pandemic.

Draghi negotiated with Brussels to provide Italy with nearly 200 billion euros in financial aid in exchange for deep economic and institutional reforms.

Despite the stakes, several parties that agreed to join his government (Fratelli d’Italia remained in opposition) brought him down this summer, purely for electoral reasons, leading to snap legislative elections.

While “Super Mario”, billed as the savior of the Eurozone during the 2008 financial crisis, seems guaranteed credibility in the eyes of its European partners, the rise to power of far-right nationalists, Eurosceptics and sovereigntists raises fears. A new era of uncertainty.

Italy in particular is crumbling under a debt of 150% of GDP, the highest rate in the euro zone behind Greece, and is experiencing inflation of more than 9% with gas and electricity bills straining millions.

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The Milan stock market rose on Monday morning as a victory for the far-right was widely expected by markets. On Friday, the Italian spot fell 3.36%, the biggest decliner among major European bourses.

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