Giovanni B. Ponzetto - 🇨🇦🇮🇱 Profile picture
Contrarian takes on Italy & EU: economics, energy, digital currencies, governance, & value. 35+ yrs in fund management. Italy's Horse of a Different Colour blog

Sep 12, 2020, 13 tweets

POLITICAL THREAD ON #Italy : Why not even lay Italians imho really understand #Salvini, and this article is misleading. @Halsrethink @amlivemon @vtchakarova @RobertMCutler @jeuasommenulle @shaun_riordan @pietercleppe (1/13)
on.wsj.com/2ZwvPGc

First off, his background is the most distant from what is perceived as "right wing" in the anglophone world there could possibly be: he was involved with a far left commune well known in Milan. bit.ly/3mpWf6y (2/13)

What he is, tough, is an extremely ambitious vote getter with no well defined set of beliefs apart from reaching power, mostly by capitalizing on a set of opponents who have no idea of what competition is. (3/13)

He's honest where he says "I think that the Lega is far beyond ideologies.", since he is the architect of the transformation from a party which nominally was representing the dispossessed North of the small entrepreneurs and of private industry into something else.(4/13)

Today's #Lega has proven its *cough* agility, by forming part of the #Conte1 government with #M5S. The #Quirinale, meaning the REAL powers in Italy, didn't have the stomach to either accept a center right coalition, or send the citizens to another snap election.(5/13)

So, the Lega went to Canossa, abjured its Northern bent, embraced the all powerful state, and in return for what to Salvini are mere baubles got a clean bill of health. #PD may huff and puff, but Lega governed and we didn't end in dictatorship.(6/13)

And #PD is the REAL target of Salvini, who hails from that background. He has now the ideal national party (Lega is as leftist as Germany's #SPD could possibly want, let alone an Italian voter), and a vapid set of opponents. What does he lack? (7/13)

He may, and probably will, reach the pinnacle of political power. But this in Italy means actually very little: A Martian reading national accounts would surmise that Italy has been an absolute kingdom since the late 60ies, policies have been that consistent.(8/13)

Yet, he has signaled in deeds that he is quite content with that. of course, since the real powers rests with left leaning powers OUTSIDE parliament, the route the article proposes is a no-no. It's more likely he will be recruited for a Unity government. (9/13)

that's only my opinion, mind you, and it would send #PD old hands to the roof: they mostly rationalize their existence by saying they are keeping Salvini out of power. Yet the Quirinale has proven that #Mattarella could not care less. His post is THE one. (10/13)

So, if you accept my thought that priority one for Stavka is nominating Mattarella's successor, embarking Salvini is a small price to pay. He's ideologically pliable to that point, and #PD will do as it's told. After all, it did when it joined #Conte2.(11/13)

What does that imply for Italian economy? one image comes to mind, since it's "absolutely nothing". Salvini during #Conte1 adopted or tolerated policies so distant from what old Lega supporters in the North were supposed to tolerate, it's not the same party.(12/13)

Italy will go on, as long as #COVID19 is present, along old lines of subsidies, statalism, deficits, etc., under the #EU's tolerant eyes.(end)

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