Giorgio Napolitano

The Austerity Debate
Europe may have hit the political limits of how far it can go with austerity-led economic policies because of the growing opposition in the eurozone periphery, according to the president of the European Commission.
Tim Harford tells the story of Thomas Herndon, the student who uncovered a mistake in a famous economic paper that has been used to make the case for austerity cuts, and considers what it means for austerity economics.

Italy Deadlock
Choking back tears in his inauguration address, Giorgio Napolitano, who at 87 reluctantly accepted an unprecedented second mandate as Italy’s president, slammed the country’s political parties for their failure to reach agreement and for the “unforgivable” lack of political reforms.
♦ Tony Barber argues that public outrage is not bred only by economic crisis, and that politicians in Italy (and elsewhere in Europe) should get their houses in order.
♦ Italy’s political and economic torpor is epitomised in the ruined and abandoned city of L’Aquila.

Elsewhere
In northwest Pakistan, militants are using bombs as campaigning tactics ahead of the May parliamentary elections.
♦ It’s the UK’s turn to host the G8 and Richard Dowden, director of the Royal Africa Society, wants to know if it will do anything to stop companies avoiding tax in poor countries: “More important than giving aid would be to stop doing bad things to poor countries. The worst thing we – the British – do is to maintain the world’s most iniquitous secret tax havens.”
♦ In the past year, two trillion dollars has not been reported to the IRS because “ordinary Americans have gone underground, and, as the recovery continues to limp along, they seem to be doing it more and more.”
Kidnappings of ordinary Syrians are on the rise as lawlessness spreads.
♦ The byline was borne of a need to make reporters more responsible for what they wrote about the Civil War in the US.
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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