-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI ASIA OPEN: Nov Job Gains, Fed Blackout, CPI/PPI Ahead
MNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
MNI INTERVIEW: Italy Mainstream Parties Must Unite - Minister
--Finocchiaro: Campaigns Must Underline Italy's Position in Europe, Euro
By Silvia Marchetti
ROME (MNI) - Italy's mainstream parties must put aside divisions and team
up in a governing coalition able to guarantee political and economic stability,
a top government legislator has told Market News in an exclusive interview.
Anna Finocchiaro, Minister for Parliament Relations, appealed to the
parties to join forces to prevent a victory for populist parties at the upcoming
March elections, as the campaign, in her view, must not be a race of one party
against all others.
"It's natural that each coalition aims to win the most possible votes, but
we are facing the risk that groups such as the Lega party and the 5 Star
Movement, which I see as a danger to our political and institutional system,
could ally to form a ruling majority," she warned.
Finocchiaro urged all political groups, no matter their affiliations, to
work together to prevent such "anti-democratic pushes", as the future of Italy
is at stake.
--GERMAN LESSON
The recent lessons from Germany, where two opposing parties, the Christian
Democrats and the Social Democrats, reached a preliminary agreement to form a
new government for the good of their country, can be looked upon as a model,
Finocchiaro said.
Even if it is too soon to know whether a 'Grand Coalition' between the
centre-left and centre-right could be replicated in Italy, Finocchiaro
acknowledged that "looking at current polls, no potential scenario (of
alliances) can be discounted at the moment".
Despite stressing that her Democrat party stood as the strongest barrier
against a populist surge, the minister hopes "it will not be the only force,
battling alone" against the anti-establishment groups, but that there will be
other parties willing to put aside differences to protect Italy's institutions
and international relations".
Italy's new voting system makes it very difficult for any one party alone
to win the required level of votes, amounting to 40%, needed to govern in a
mono-coloured administration.
--SHIFTING BATTLE LINES
Traditional electoral battle lines have changed, according to Finocchiaro.
The fight, in her view, is no longer between left and right, but between
democracy and chaos and the common enemy to defeat are Lega and the 5 Star
Movement.
Finocchiaro said it is important to act swiftly, and not only the day after
the ballot boxes deliver an uncertain outcome. Even during the campaign,
although on opposite sides, as many parties as possible must send out the
message of "continuity" by underlining existing pro-growth reforms, Italy's
permanent position in Europe and avoiding mixed messages on the euro.
"Italy has done so much lately to curb a decades-long high public debt and
support the economic recovery after a triple-dip recession with measures that
are bearing fruit now. It can't be all wiped away. It's crucial to continue
along this path in order to ensure stability in the long-run," she said.
As concerns mount in Europe over Italy's electoral outcome, Finocchiaro
argued that the country's hard-won credibility on the European stage must be
preserved, reassuring EU partners and international investors, not just domestic
voters.
Populist parties have been sending mixed messages lately on Italy's
position in the eurozone, despite a softening of their more anti-European
stances as they look to lure swing voters.
"Whoever doubts Italy's international position, its belief in the euro and
the respect of agreed, but revisable, fiscal rules, cannot be relied on and does
not care about the future of this country," said Finocchiaro.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$E$$$,M$I$$$,M$X$$$,MC$$$$,MI$$$$,MX$$$$,MGX$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.