Those pesky European voters have done it again. Last spring the Greek electorate, choked by recession and austerity, nearly gave the reins of government to a hard-left, anti-reform coalition. Now it’s Italy’s turn to throw the plans of the Eurozone high command into disarray. As results of the two-day parliamentary election began streaming in on Monday, Brussels, Berlin, and Frankfurt (seat of the European Central Bank)—not to mention the global markets—looked on in horror.
Italian media mogul and former ex-Premier Silvio Berlusconi during a television appearance last week. The latest political polls suggest he is gaining ground on center-left candidate Pier Luigi Bersani ahead of Italy's elections.
Mario Monti’s announcement last Saturday that he plans to resign his post as Italy’s prime minister earlier than was previously expected has thrown Italian politics, and the whole Eurozone, into renewed turmoil. Monti, a Yale-educated technocrat and former EU commissioner, took over in November of last year after market pressure forced Silvio Berlusconi to quit in order to prevent the ignominy of Rome having to apply for an international bailout. The plan was for him to serve the rest of the parliamentary term, until elections scheduled for no later than April 2013.
On that emotionally charged day in Manchester in late September 2010 when Ed Miliband narrowly beat his brother David to become the new leader of the British Labor Party—largely thanks to trade union votes, Conservatives rejoiced. The younger Miliband, they thought, was too woolly and too left-wing to lead a Labor resurgence; they considered David a much tougher opponent.
In opposition since May 2010, after 13 years in government, Labor faced a twin struggle: to convince voters to take them seriously as stewards of the economy again and to make their new leader, only 40 and with relatively thin ministerial experience at the time of his election, plausible as the country’s next prime minister.