Sunday, February 16, 2014

On the eurozone front - it could be a dramatic day in Italy. The Democratic Party (PD) could be poised to whip away its support from coalition leader Enrico Letta in a move that would put its own leader, Matteo Renzi, in power.
It hasn't been a very good start for Renzie. He was hoping that Letta would just resign but it seems the prime minister needs to save himself a bit of dignity. Apparently, they had a screaming match when they met yesterday and today's meeting at PD HQ promises to be a nasty affair.
Renzi now just wants Letta to go, 'Time's up, there are no longer the conditions to carry on. This government is a dead weight', but he needs it to be as bloodless as possible. He certainly doesn't want to be forced to bring down the government in parliament in a vote of confidence.
Letta will probably be forced to resign today after the PD smackdown since both Napolitano and the Corriere della Sera have withdrawn their support for his government. The big incognito will then be which parties make up our 'new', un-elected, coalition government, which will be led this time by Renzi, who is currently not even a member of parliament. The Lega Nord seem keen and Mr B is just delighted with the whole situation. After all, it was Renzi that brought him back into the heart of policy-making when they dreamt up our new electoral law together. We will see in due course what other deals were struck at that meeting of minds.
Leaving aside all this nonsense, some reports say that one of the differences in policy between Letta and Renzi is that the latter does not intend to remain within EU economic parameters.

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