from MacroScope:

Davos Day Two — Rouhani, Lew and Lagarde

By Mike Peacock
January 23, 2014

Day one in Davos showed the masters of the universe fretting about Sino-Japanese military tensions, the treacherous investment territory in some emerging markets and the risk of a lurch to the right in Europe at May’s parliamentary elections which could make reform of the bloc even harder.

from John Lloyd:

Beppe Grillo’s anti-disappointment party

By John Lloyd
April 3, 2013

Jim O’Neill, head of Goldman Sachs Asset Management, thinks Beppe Grillo and his Five Star Movement is a greater threat to Europe and the euro than the trials of little Cyprus. That’s because Grillo received more than a quarter of the votes in February’s election in Italy and has since gridlocked the political system by refusing any dealings with the established parties. A government can’t be formed.

from MacroScope:

Euro zone week ahead

By Mike Peacock
March 4, 2013

Italy will continue to cast a long shadow and has clearly opened a chink in the euro zone’s armour. It looks like the best investors can expect is populist Beppe Grillo supporting some measures put forward by a minority, centre-left government but refusing any sort of formal alliance. That sounds like a recipe for the sort of instability that could have investors running a mile. The markets’ best case was for outgoing technocrat prime minister Monti to support the centre-left in coalition, thereby guaranteeing continuation of economic reforms. But he just didn’t get enough votes. Fresh elections are probably the nightmare scenario given the unpredictability of what could result.

from MacroScope:

A flaw in euro zone defences

By Mike Peacock
February 28, 2013

Italy continues to dominate European financial markets and it looks like the best they can expect is populist Beppe Grillo supporting some measures put forward by a minority, centre-left government but refusing any sort of formal alliance. That sounds like a recipe for the sort of instability that could have investors running a mile. Outgoing technocrat prime minister Monti is speaking Brussels today. The markets’ best case was for him to support the centre-left in coalition, thereby guaranteeing continuation of economic reforms. But he just didn’t get enough votes.

from John Lloyd:

Italy elects the impossible

By John Lloyd
February 26, 2013

In a parliamentary election this week, a majority of Italian voters – some 60 percent – chose parties that even a cursory glance could tell had no coherent idea of how to run an advanced and complex state (let alone Italy). Forty percent voted for two groups that have a recognizably sensible approach to governance, the largest of which is mainly made up of the Democratic Party, heirs to the former Communist Party of Italy. In one of the smaller ironies of the election, these heirs of an anti-capitalist, anti parliamentary revolutionary ideology were regarded, especially by investors, bankers and politicians of both the center-right and center-left, as Italy’s greatest hope for constitutional and market stability

from John Lloyd:

Beppe Grillo: The anti-politics politician

By John Lloyd
May 17, 2012

For some three decades, an Italian comedian named Beppe Grillo has satirized – viciously, at high volume, naming names – the corruption of Italian politics. Last week, in Italian elections, he won the honor of being a part of the very thing he mocks.

from Global News Journal:

No hope, no vote…

April 13, 2008

As Italians began trickling to the polls to vote in the general election on Sunday, some protested to show their disillusionment with politics.