What’s happening in Italy? The international community is worried about Eurozone perspectives. If Rome goes to Athens direction, the risk will be too big for the European Union. “We’ll overcome this test”, Italian President Giorgio Napolitano said. Finacial markets could be reassured by this statement. However, it couldn’t be sufficient. The possibility of an alliance between Pd and M5S leaders doesn’t persuade observers. Mr. Grillo is against the Euro currency and its main purpose seems to be a total institutional break.
Can this policy be sustainable for Europe? The idea of new elections simply is a disaster. The only solution will be a big coalition between left (Bersani), right (Berlusconi) and center (Casini). The road ahead could be still very long. Meanwhile, the helm of the Italian ship could remain in PM Monti’s hands. At this point, we can’t exclude the decision to anticipate a corrective maneuver on public finances or the request for a ECB loan. What is certain is that the Italian enigma concerns whole Europe.
