Here’s how Italy could tip into a tailspin, writes Hugodixon
tax cuts depend on the state of the country’s finances, which she promises will be safe in her hands.
Russia’s invasion of Ukraine has also strengthened EU solidarity. Meloni’s consistent criticism of Vladimir Putin has won her brownie points in parts of the EU, even though many disagree with herto stop the euro zone fragmenting. It will buy the bonds of governments that come under speculative attack so long as their debt is sustainable. Nobody wants Italy to go into a tailspin and drag down countries such as France and Spain, which also have high levels of sovereign debt.
What’s more, her decision to abandon euroscepticism looks like one of convenience. As such, she could embrace it again if she thinks it is in her interest to do so. After all, the Italian electorate is fickle. In the last election in 2018, the Brothers of Italy had justof the vote while the League, Meloni’s main ally, had 17.4%. Now opinion polls show Meloni’s party at 25%, compared with about half that for the League.
Salvini won’t necessarily throw Meloni off course: his party may well replace him with a more moderate leader. There’s also a slim chance that Meloni could join forces with some centrist parties if they do well in the election. In extremis, Draghi might even return to government.
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