Italy’s Looming Political Crisis: Dancing Under the (Debt) Volcano

I have argued recently ( here) that the victory of the Berlusconi’s coalition in the March regional elections was a “Pyrrhus” victory. Mr Berlusconi’s People of Freedom party (PdL) lost votes to its main ally, the Northern League, and weakened considerably in the productive North. It did well in the South, however, where the League […]

The Debt Implications of Berlusconi’s “Pyrrhic” Victory

In many ways the recent Italian regional elections have been a success for ther centre-right government of Mr Berlusconi, apparently confirming the inoxidable popularity of the media-tycoon-turned politician, who has successfully survived recent corruption scandals (for the reconstruction of eathquake-stricken L’Aquila), sex scandals (the parties with prostitutes), the disclosed attempts to shut off a popular […]