The Intelligence from The Economist Conte’s inferno: political crisis in Italy
Jan 28, 2021
In this engaging discussion, John Hooper, The Economist’s Italy correspondent, unpacks the chaos following Prime Minister Giuseppe Conte's resignation, emphasizing the potential for early elections and the struggle for a stable government in Italy. Alice Fullwood, The Economist’s Wall Street correspondent, dives into the GameStop phenomenon, spotlighting how retail investors are shaking up Wall Street and challenging hedge funds. The duo also touches on the rise of backcountry skiing in the U.S., offering a glimpse into winter adventures.
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Italian Political Crisis
- Italy's Prime Minister, Giuseppe Conte, resigned, causing political instability.
- This has significant implications for Europe's post-pandemic plans, particularly the use of recovery funds.
Conte's Loss of Support
- Conte's coalition fractured due to Matteo Renzi's Italia Viva party withdrawing support.
- Renzi criticized the government's plans for using EU recovery funds, a crucial issue for Italy.
Potential Outcomes
- The President, Sergio Mattarella, is exploring options like rebuilding the coalition or forming a new government.
- A potential right-wing government worries Brussels, adding complexity to the situation.