Tag: Politics of Italy

ROME — Italy’s post-election political turmoil is hampering the sale of Alitalia, the country’s bankrupt flag carrier only being kept aloft thanks to emergency government loans. Tuesday marked an informal deadline for binding bids to be filed. But possible buyers are balking thanks to the political impasse that followed last month’s inconclusive election. The country’s two leading parties have both expressed reservations about selling the carrier to a foreign bidder. A spokeswoman at the industry ministry confirmed that “a slowdown [in the sale process] is due to the fact that the possible buyers are waiting for a clearer political situation before deciding.” “We will take all necessary steps to be prepared … But today’s Alitalia is not of interest to us” — Lufthansa spokeswoman Neda Jaafari Germany’s Lufthansa, British low-cost carrier easyJet and U.S. private equity fund Cerberus are among the companies that previously expressed interest in Alitalia, under administration since its staff rejected a rescue plan that would have cut jobs and salaries. Lufthansa made clear on Tuesday it’s not interested in the Italian carrier in its current shape. “The matter is too politically sensitive to be dealt by an interim government” — Wolfango Piccoli, head of Teneo Intelligence “We have submitted a document outlining our ideas for a restructured ‘New Alitalia.’ We can imagine further discussions based on that,” spokeswoman Neda Jaafari said. Alitalia said in a statement late Tuesday it had received three offers but declined to name the bidders. On Alitalia, however, both the 5Stars and the League have expressed similar views, hinting that the next government — if led by them — could consider exploring new “national” solutions for Alitalia, including a state investment in the company. “You could put anything in front of an Italian and as long as it has a tricolor, they will buy it,” said the industry official, referring to the Italian national flag.

That widening signals investors do see increased political risk in Italy, but the spread between the two is still tighter than it was for most of 2017, let alone during the European sovereign debt crisis. Italian bank stocks fell by 2.6%, returning the FTSE Italia Banks index to levels last seen in early January. But there was no knock-on effect elsewhere in the eurozone. The euro up by around 0.1% at $1.234 as European markets closed. The Stoxx 600 index rose by 1%. Investors rate the chance of a country leaving the eurozone within the next 12 months at its lowest levelsince at least 2012 Early on Monday some analysts even saw opportunities in the decline in Italian government bond prices. Helping ease concerns in Italy is a rare bout of growth in a country whose economy has trailed for over a decade. Imports rose by almost 10% in both 2016 and 2017, after years of stagnation. Italian banks’ large pile of non-performing loans has begun to decline as a proportion of total lending. “On the contrary, it is increasingly clear that the Eurozone drama is far from over, even if we may be enjoying the current intermission,” he added.

In the run-up to the Italian general election on March 4th, The Local is bringing you a daily round up of who's done what and why in the fast-moving world of Italian politics. Silvio Berlusconi dropped that bombshell in response to speculation that his Forza Italia party could abandon its alliance with the far right to form a "grand coalition", German-style, with the centre-left Democrats. But Berlusconi said today that grand coalitions, so beloved of Germany, are viewed in Italy with mistrust. Somewhat incredibly, just days from the election, Forza Italia still doesn't have a candidate for prime minister. The man Berlusconi has in mind is, as many have long suspected, European Parliament President Antonio Tajani, though "I have been asked by him to put forward his name only when he gives me the go-ahead". Italy's shadow government The Five Star Movement, on the other hand, just can't wait to announce who it would put in government. Roberto Maroni, the current president of Lombardy, has been with the League long enough to remember when it was the Northern League – and he doesn't like what it's become. In a column published today, Maroni blasted the party's current leader, Matteo Salvini, for losing sight of the League's original cause: greater autonomy for Italy's regions, beginning with those in north. From acid attack victim to candidate Even among so many memorable candidates, Lucia Annibali stands out. Until a few years ago, the 40-year-old lawyer had never considered running for office.

In the run-up to the Italian general election on March 4th, The Local is bringing you a daily round up of who's done what and why in the fast-moving world of Italian politics. Days to go until Italy votes: 12 We've had the final polls before voting day and the overseas votes are already making their way to be counted in Italy. Election emoji The Italian election now has its own emoji on Twitter: a ballot paper being dropped into a box decorated with the Italian flag. Only the man who's been in them longer than almost anyone else campaigning, one Silvio Berlusconi! De Luca's claim is that his rivals are seeking to discredit him and his party, the Democrats, days from the election. Italy is using a new, never before tested electoral law this year, which is why there's a new ballot paper, and also why the outcome is anything but certain. We've explain the new law in more depth here. Good news, bad news, fake news 2017 was the year of fake news, according to communications regulator Agcom, whose latest survey indicates that more and more Italians rely more and more heavily on social media for information. From the very start of the campaign, the Democratic Party accused supporters of its rivals – specifically the Five Star Movement and the League – of spreading disinformation designed to mislead voters. IN DEPTH: Forget the election, what's Italy's political system anyway?