Head-to-head race with advantages for the left in italy

Head-to-head race with advantages for the left in Italy

The payment of the votes and consolidated projections pointed to a possible win of both parliamentary chambers by the center-left alliance of pier luigi bersani. Confirmed the sensational rise of the populist protest movement "five stars" of the comedian beppe grillo.

In the house of representatives, the left can count on a bonus for the strongest party thanks to italian electoral law and thus came to 340 of the 630 seats. According to the rai tv projection, berlusconi’s center-right coalition won 121 seats and grillo’s anti-establishment movement 111 seats. The previous head of government, mario monti, with his civic center alliance, had 45 deputies.

The distribution of seats in the second chamber, the senate, remains more complicated. There, according to a mediaset projection, the left-wing alliance wins 110 to 130 seats, but misses the majority. This means that bersani’s alliance will need a partner to govern. Berlusconi’s conservative camp from the pdl (people of freedom) party and the lega nord could count on 104 to 124 seats, the populist "five stars" movement on 40 to 60 senators. Bersani’s possible government partner monti then achieved 8 to 18 seats.

Bersani, head of the partito democratico (PD), could become the new prime minister, but will probably need a coalition partner to do so. Grillo’s "5 stars" came from a standing start to win about a quarter of the votes in both chambers of parliament.

For the third-largest economy in the euro zone and the entire monetary community, the early two-day parliamentary elections were a matter of great importance. The decisive factor is whether the country, which is heavily in debt and in a deep recession, will quickly have a stable government. In view of the unclear election outcome, the markets reacted immediately and gave back gains.

In initial forecasts based on the by-election polls, pollsters had initially assumed a victory for bersani in the chamber; later, according to projections, berlusconi had been ahead for a long time.

The populists around grillo, who have experienced a meteoric rise in recent months with anti-european tones, became the second strongest single party in the senate. They came sensationally to just under 23 percent. The list of the previous head of government, monti, came in a distant fourth, with his centrist alliance only achieving around nine percent. He could be a possible coalition partner for bersani. The strongest faction in the house of representatives – presumably the center-left alliance – gets a bonus for a stable majority of 340 of the 630 seats. In the contested senate, 158 of the 315 seats are needed for a majority. According to the ministry of the interior, a good 75 percent of italians eligible to vote cast their ballots, compared with around 81 percent in 2008.

Already there are warnings of a political blockade of the euro crisis country. "If things stay like this, the next parliament will be ungovernable," the deputy secretary of bersani’s democratic party (PD), enrico letta, told the television station rai. Then you have to go back to the ballot box.

The markets reacted with disillusionment to the unclear situation in italy: dax and co. Gave back some of their initially strong gains by the close of trading on monday due to the election results. Uncertainty is seen as a poison for the markets. The gains of the german leading index dax crumbled massively by the close of trading. It closed with a plus of 1.45 percent at 7773.19 points. Also at other european stock exchange places it looked similarly. On wall street it went down due to concerns about the election results in italy. The euro also came under heavy pressure, and nervousness was felt in the bond market.

After the resignation of the non-party head of government monti, head of state giorgio napolitano dissolved the italian parliament in december. The parliamentary election was then brought forward slightly.

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