Italy

Five lesser-known facts about the man likely to become Italy’s youngest ever prime minister:

  • He was once a boy scout. According to his online biography, he continued his scout duties while director of his family firm.
  • Some compared him with Barack Obama when he chose to run a grassroots primary campaign with the tagline “Adesso!” – “Now!” While Obama wrote books called The Audacity of Hope and Dreams from My Father, Renzi has written a book called Fuori! (Out!) about the dreams, ideas and hopes for a new generation. It tells the reader what he has learnt from football and scout camps.
  • He has also written a book call Tra De Gaspari e gli U2Between De Gaspari and U2 — on young people and the symbols of politics.

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(EPA)

Do last week’s German constitutional court ruling lambasting – but failing to overturn – the ECB’s crisis-fighting bond-buying programme and Matteo Renzi’s ousting of Italy’s prime minister Enrico Letta have anything in common?

In the view of many ECB critics, particularly in Berlin, the two are not only related, but one may have caused the other. Read more

Tony Barber

(Getty)

According to the old saying, if you knew how a sausage was made, you’d never eat one. It is no easier on the stomach to watch the political intrigues that lie behind the formation of Italian governments.

A new government is on its way in Rome because Matteo Renzi, leader of the centre-left Democratic party, has decided to pull the plug on Enrico Letta’s premiership. It is difficult to see who other than the youthful, super-ambitious Renzi will replace Letta.

For Italy’s eurozone partners, this is a fateful moment. If Renzi, as prime minister, fails to deliver the reforms that European policy makers know are essential to keeping Italy in the eurozone, the likelihood that some other Italian politician will do so are exceedingly small.

But Renzi’s very public political assassination of Letta, his party comrade, was a kind of theatrical “stab in the front” that may one day return to haunt him. For if these are the methods he deems suitable to clear his path to national office, it is reasonable to assume that they will sooner or later be used against him. Read more

Tony Barber

Matteo Renzi (Getty)

Outside Italy there is an understandable enthusiasm for the constitutional and electoral reform proposals of Matteo Renzi, leader of the centre-left Democratic party. Italy unblocked – at last! Inside the nation itself, there is more caution and scepticism. This reflects the experience of Italians, who have travelled such roads in the past without being rewarded with better government and a better class of political leaders.

Renzi, 39, and Silvio Berlusconi, 77, leader of the revived conservative Forza Italia party, struck a deal this month which is beguiling in its simplicity. Read more

Gideon Rachman

At the end of every year, I attempt a first draft of history by listing what seem to me to be the five most significant events of the past twelve months. Some of my picks for 2013 also featured in 2012. I hope this is not because of intellectual laziness, but simply because the war in Syria, and the turmoil in Egypt remain defining events of our era. I probably should also once again include the tensions between China and Japan – but they are still simmering and have not yet boiled over. So I’ll give the Senkaku-Diaoyu islands a rest this year.

So let me start the list for 2013 with a genuinely new event that has global significance: Read more

Tony Barber

(OLIVIER MORIN/AFP/Getty Images)

An optimist would draw much inspiration from Matteo Renzi’s convincing victory in Sunday’s primary elections for the leadership of Italy’s ruling centre-left Democratic party (PD). Doesn’t the success of the 38-year-old Florence mayor prove that a new generation of vigorous, reform-minded politicians is, at long last, replacing the squabbling, incompetent and sometimes corrupt oldsters who have presided over the nation’s decline over the past 20 years? Read more

Tony Barber

(FILIPPO MONTEFORTE/AFP/Getty Images)

As the FT’s former man in Rome, I find it poignant to see Silvio Berlusconi battling this week to hold together the political movement he launched 20 years ago. The billionaire Milanese entrepreneur did not seriously contemplate a political career until 1993, when he realised it would be the most effective way to protect his business interests. In fact, one of his closest associates once confided – perhaps only half-jokingly – that, if Berlusconi had not formed Forza Italia, the boss and his loyalists would have ended up either in prison or hanging lifeless à la Roberto Calvi under a London bridge.

In its various incarnations Forza Italia is sometimes depicted as one of the most formidable vote-gathering and coalition-building political machines of modern Europe. Read more

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By Catherine Contiguglia

It seemed an era of Italian politics came to an end with the announcement that Italy’s supreme court had upheld a four-year sentence against Silvio Berlusconi for tax fraud.

Though the 76-year-old centre-right politician will not be going to jail due to his age, he could be placed under house arrest for a year, will not be able to hold public office for as long as five years, will not be able to run for elected office for six years and could be voted out of his current position as a senator.

Emerging from the ashes has been a major part of Berlusconi’s public career and, since the ruling, Berlusconi has assured his supporters he still has more plans up his sleeve. However, many believe this most recent ruling could be the definitive end of Berlusconi in politics. Read more

John Aglionby

The allegations against Monsignor Nunzio Scarano, an accountant in the Vatican’s internal accounting administration, are – albeit tangentially – the latest in a litany of scandals to affect the Vatican bank. Over the last three years, the 71-year-old Institute of Religious Works, as the bank is officially called, has been tainted by claims of money-laundering, corruption and incompetence.

The crisis began in September 2010 when it came under investigation by Italian authorities who had frozen €23m the bank was trying to transfer to accounts in Italy and Germany without releasing full details of the intended beneficiaries. The bank denied any wrongdoing. The funds were released but the investigation continues.

The Vatican responded with striking rapidity to the bank’s top two officials, Ettore Gotti Tedeschi and Paolo Cipriani, being placed under investigation; Father Frederico Lombardi, the chief spokesman, even wrote to the FT defending the two menRead more

Ferdinando Giugliano

Berlusconi at a rally (Getty)

Will he or won’t he? Since a court in Milan on Monday sentenced Silvio Berlusconi to seven years in prison on charges of paying for sex with an underage prostitute and abuse of office, Rome-watchers have wondered whether this ruling will have consequences for the Italian government led by Enrico Letta. Mr Berlusconi’s People of Liberty is one of the three parties backing the cabinet, alongside the centre-left Democrats and the centrist formation, Civic Choice.

Mr Letta and Mr Berlusconi met on Tuesday to discuss the road ahead for the coalition. Top of the agenda was the government’s economic policy and, in particular, how to spare Italians of a rise in VAT, which is planned for July 1st but which Mr Berlusconi wanted to avoid at all cost. It is hard to imagine, however, that in their three-hour long meeting, Mr Letta and his predecessor did not discuss the consequences of the ruling in Milan.

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