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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.
ITALY
Italy's main opposition centre-left Democratic Party (PD) will be seeking a boost in support as a result of the election of a new progressive left-winger as party head. Former MEP and VP of Emilia Romagna Elly Schlein (37) beat frontrunner Stefano Bonaccini (56) in the election for the PD leadership position on 26 Feb. She faces a difficult task in turning around the PD's fortunes following an historic loss to the right-wing coalition led by now-PM Giorgia Meloni's Brothers of Italy (FdI) in the September 2022 general election.
- Schlein previously left the PD under the leadership of former PM Matteo Renzi following his jobs act that leftists opposed as weakening labour rights and empowering employers to fire workers.
- A shift to the left under Schlein could result in differing outcomes for the PD. It could drive away more centrist-minded voters to the more moderate liberal Action-Italia Viva party, ensuring the PD remains in the political doldrums polling well behind FdI. Alternatively, Schlein's progressive, green stance (compared in some Italian outlets to US Congresswoman Alexandria Ocasio-Cortez) could draw in disaffected young voters and those who have recently shifted to the left-wing populist 5-Star Movement.
- The PD is currently vying for second place in polls with the 5-Stars, with around 16-19% support, well behind FdI, which regularly tops 30% support.
Chart 1. General Election Opinion Polling, % and 6-Poll Moving Average
Source: Local polling agencies. N.B. Gap in Sep 22 due to polling blackout ahead of 25 Sep general election.
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.
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