The large victory of the Syriza party in Greece, with Tsipras just one seat below absolute majority (see Table 1 below) raises the questions :”What will happen now in the Eurozone? Is a Grexit scenario possible?”My take here is that not much is likely to happen, except some tough bargain between the new government and […]
About a month ago I discussed in Economonitor the likelihood that the “Monti Agenda” of budgetary discipline (so far large tax increases and promises of spending cuts ) and growth oriented liberalizations (yet to be implemented) would still be at the core of agenda of the next Italian government, after the 2013 elections. In Italy, […]
On Democracy and the “Fiscal Compact”
Figure 2 Figure 2 In a recent piece about EU elections (see voxeu ) Francesco Daveri makes two points. The first is that the election results across Europe share a common trait: the revolt of large sectors of the electorate, particularly in France and Greece, but also in the Italian and German administrative elections , […]
A Hard Rain’s A-Gonna Fall?
(from roubini.com, versione in italiano qui) The Berlusconi‘s debacle in the recent municipal elections in Milan, Naples, Turin and Bologna has been a veritable political earthquake that will destabilize the system of alliances that has governed Italy almost continuously from 1994. Simply put, there are two camps within the government: the party of rigor-despite-the crisis epitomized […]
From the New York Times
Article (14 Dec. 2010) on NYT on Berlusconi briefly quoting an interview