After this weekend’s elections failed to produce a clear winner in Italy the financial markets reacted swiftly with stock prices falling around the world. Negotiations began immediately in an attempt to strike a deal and form a new government without the lengthy uncertainty of new elections; but such a deal is looking increasingly unlikely.
Former comedian and anti-austerity campaigner Beppe Grillo took a large share of the vote, denying victory to either of the established left and right wing coalitions. In many ways this was seen as a protest vote from Italians weary of austerity cuts and falling living standards.
But today he flamboyantly ruled out a deal with Pier Luigi Bersani, the leader of the left wing coalition which won the most votes in the lower house, hurling a string of insults at him in the process. Meanwhile Bersani’s coalition partner ruled out any deal with the centre-right. With these two options off the table, it is difficult to see any viable deal on the horizon.
A new election may be held within a few months in Italy’s politicians are unable to form an alliance capable of commanding a majority and forming a new government.
Related Articles from Around the Web:
- Italy centre-left rejects government alliance with centre-right (worldbulletin.net)
- Insight: Rome will burn, regardless of Italian election result (news.yahoo.com)
- Italy’s Grillo rules out voting for traditional parties (timesofmalta.com)