Beppe Grillo

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 >>

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.

 Read more >>

Ferdinando Giugliano

Beppe Grillo on the campaign trail

Two months ago Beppe Grillo came out as the big winner of Italy’s general elections. His Five Star Movement, which was created only in 2009, came within a whisker of becoming Italy’s single largest political force. His vote tally in the Lower House was an extraordinary 8.7m, more than Silvio Berlusconi’s People of Liberty party and only a few hundred thousand votes less than the centre-left Democratic Party. Read more >>

Ferdinando Giugliano

An elderly man plays his accordion at the old town market in Warsaw, Poland, on June 24, 2012 (CHRISTOF STACHE/AFP/GettyImages)

(Photo by Christof Stache/AFP/Getty)

The former Italian prime minister Giuliano Amato once compared the powers of Italy’s president to an accordion. Just as the box-shaped musical instrument can expand and contract, the same is true for the influence of Italy’s head of state: what the president can or cannot do largely depends on the strength of the political parties.

On Thursday, Italy’s 949 MPs and 58 representatives from the 20 regions will convene to elect the successor to President Giorgio Napolitano. Amato himself is a candidate, alongside former prime minister Romano Prodi, former European commissioner Emma Bonino, and others.

The political stalemate following February’s inconclusive election means that the new president will have to be picked on the basis of a last-minute deal between the centre-left, (the largest alliance in Parliament) and at least one of the other three significant forces – the centre-right coalition of the People of Liberty and the Northern League, Beppe Grillo’s Five Star Movement and Mario Monti’s Civic Choice. There are no clear favourites for the job. Yet, this election will matter a great deal for Italy and for those who are interested in a solution to its political crisis.

For decades, the President’s job was seen as largely ceremonial. True, the President is the head of the judiciary and of the armed forces. But he doesn’t have anything like the kind of executive powers held by the French or American presidents (though he can veto any law if he believes it is against the constitution). Read more >>

Ferdinando Giugliano

Situation vacant? Mario Monti (Getty)

There were two big job vacancies in Rome last month. The Catholic Church began looking for a new pope after the shock resignation of Benedict XVI. Meanwhile, Italians went about the business of picking a new head of government who would end Mario Monti’s technocratic interlude.

The Vatican is not exactly known for its speedy decision-making. Yet it only took the conclave of cardinals a couple of days to elect Jorge Mario Bergoglio as the new head of the church. Pope Francis – as he is now – is already making headlines with his new message centred on the need for a humbler and more austere church.

On the other side of the Tiber, Italian politicians are still struggling to choose a new prime minister. Today and tomorrow, President Giorgio Napolitano is meeting party leaders and other institutional figures to talk about what to do next. But Italy-watchers do not expect white smoke to come out of the presidential palace any time soon.

Last month’s inconclusive elections have produced a three-way deadlock in the Senate between Pier Luigi Bersani’s centre-left coalition, Silvio Berlusconi’s centre-right alliance, and Beppe Grillo’s Five Star Movement. The only solution to the impasse is a government that is backed by at least two of these forces. But this trilemma has no easy solution. Read more >>

By Gideon Rachman

Some months ago, I was discussing the euro crisis with a high-ranking US diplomat. “It’s back to the 1930s, isn’t it?” said my companion with a mixture of gloom and relish. “The extremists are on the rise.”

Esther Bintliff

(AFP/Getty)

(AFP/Getty Images)

Beppe Grillo, the big winner of Italy’s 2013 election, first rose to fame in the 1970s as an irreverent, foul-mouthed comedian with corruption of all kinds in his sights. Read more >>

Valentina Romei

Two interesting trends that have shown up in the data from Italy’s election today.

1) The preliminary election results among the nearly 3.5 million Italian voters living abroad show a very different picture from the results within Italy.

chart created by Valentina Romei

The austerity measures and market-friendly stance of the ex-Prime Minister Mario Monti managed to convinced over 27 per cent of the votes of Italians living in Europe and in North and Central America, where his movement came in second after Pier Luigi Bersani’s Democratic Party (PD). Within Italy, fewer than one in ten Italians voted for him.

Meanwhile, the comedian-turned-political leader Beppe Grillo successfully won over Italians in the plazas where he held numerous rallies, but it appears that his anti-establishment message was not heard so sympathetically by Italians around the world. Read more >>

Italy ‘s parliamentary elections ended in political deadlock on Monday night with little hope of a clear majority. Join the FT as it covers the unfolding political and economic drama. By Lina Saigol.

 

Tom Burgis

Italians cast their ballots in a tight election, with Brussels, Berlin and the markets looking on. By Tom Burgis, Lina Saigol, Ben Fenton and Shannon Bond with contributions from FT correspondents across Italy and beyond. All times are GMT.