Italy a picture of political surrealism, Europe at a crossroads
Wednesday 13 November 2019 Vol.10 Ed.46.2
Commentary: Italy a picture of political surrealism
By Antonio Armellini in Rome
Italy’s political crisis appears surreal even by the country’s well-worn standards. Objective factors would warrant an early dissolution of parliament, much desired by League leader Matteo Salvini; political considerations do not. Luigi Di Maio’s badly battered Five Star Movement, Nicola Zingaretti’s Democratic Party and the smaller leftist group Free and Equal – united under their ‘Anything to stop Salvini’ banner – constitutes a fragile equilibrium, yet the only reasonable forecast is for this government to continue until spring 2020.
Read the full commentary on the website.
Podcast: Reflections on Lagarde, Germany and the future of the ECB
In a discussion with Ellie Groves, OMFIF Chairman David Marsh and his US counterpart Mark Sobel offer differing views on how Christine Lagarde will best achieve the ECB mandate of ensuring price stability. Sobel argues that the continuation of loose monetary policy is required, whereas Marsh focuses on Germany’s wish for policy normalisation. Both agree ECB policies should be pan-European and the central bank’s new chief has a great strength in her convivial leadership style.
Listen to the recording, or search for OMFIF on your smartphone’s podcast app.