Tuesday, February 26, 2013

Italian Election Solves No Problems



The general election in Italy ended in a political gridlock as no party was able to gain a majority in the senate while in the house a coalition of the center-left Italy Common Good gained enough support to gain a majority. In the senate, the votes gained by upstart former comedian Beppe Grillo's Five Star Movement that is against the euro prevents an active coalition being formed. Former Prime Minister Silvio Burlusconi's People of Freedom coalition gained 29.1% of the vote despite Burlusconi being on trial for seeing an underage prostitute with the promise of repealing a recent property tax that has proven very unpopular. Economists fear an economic downturn based on gridlock, the showing of the anti-euro faction, and the probability of another election soon. New austerity measures, which many see as essential to the Italian economy are politically impossible with the outcome of the election. 

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