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Trump Takes Italy by Storm: the Rise of Matteo Salvini and of the Italian Right

Trump Takes Italy by Storm: the Rise of Matteo Salvini and of the Italian Right

Matteo Salvini, the leader of the Italian League and Minister of the Interior since June 2018. During the past few weeks, he has gained political prominence in Italy by adopting Trump’s style and policies. Here, you see him together with the slogan “Italians First.”

During the past few weeks, we have seen a true political revolution in Italy. Matteo Salvini, leader of the Italian League, has successfully exploited his new position of Minister of the Interior to gain personal prominence. The M5s movement had won the elections, this year, but it has been emarginated to a secondary role, while Salvini acts and looks like if he were the real Prime Minister. If new elections were held now in Italy, Salvini and the League would win hands down

All politics is, after all, about blame shifting. So, political success means simply finding someone to blame. Matteo Salvini was successful by adopting the same style and content that made the political fortune of Donald Trump. Both Trump and Salvini found a good target to blame with immigrants and foreigners in general. Both used harsh language, insults, callousness, and plain racism. Both found that the more shrill and violent their utterances were, the more they were approved by the public. It took a remarkably small effort to convince a large majority of Italians that all their troubles are caused by immigrants and, in particular, by the Roma people (less than the 0.2% of the Italian population). Salvini also capitalized on demonizing the Euro and the European Union, although he can’t afford (so far) to exaggerate with insults and threats in that field. In any case, right now, it seems that 72% of Italians approve Salvini’s actions

…click on the above link to read the rest of the article…

One Word: Contagion

One Word: Contagion

Terrible news, I’m afraid.

The trainwreck that is Italian politics has always been a hoot to watch. But this time around the implications to what happens in Rome are, as Trump would say, yuuuge.

You’ve probably seen the news-flow out of Europe.

Tasked with finding a suitable candidate to head a coalition between Luigi Di Maio’s Five Star Movement and the far-right League headed by Matteo Salvini, a coalition, which I might add has to be scaring the living isht out of Brussels, has not been an easy task.

Firstly, they went and chose someone nobody has ever heard about.

Why?

Well, Italy has many “colourful characters” in politics, and that is what scares Brussels more than anything else. Draghi’s worst nightmare must be sitting across the table from this guy discussing Italy’s bill to Germany.

In case you’re not up to speed on what these gents stand for here’s a sampling from Matteo Salvini.

Slaves of the European Union? No, thanks!

I can’t wait for Italy, with our government, to regain its sovereignty to defend the national interest in any way possible. Unacceptable intrusion from a European bureaucrat in Italy’s elections. The immigration policies and economic sacrifices imposed by the European Union have been a disaster and will be rejected by the free vote of Italians.

European bureaucrats calm down. League will always defend our fisheries and the agriculture of Italy. Enough with the European standards that slaughter our businesses and our territory!

No! What this coalition needed was someone entirely vanilla, very unlike their own leaders, a nobody, a perfectly useful idiot.

And so they picked Giuseppe Conte.

Who, I hear you say?

Precisely.

But poor Giuseppe didn’t last very long. Heck, he was tasked with what was one helluva job — sugarcoating this…

…click on the above link to read the rest of the article…

Italian Bonds, Stocks Crash In Furious Reversal As Political Drama Explodes

Yesterday, in the aftermath of the latest Italian political drama, in which president Mattarella openly mocked democracy, and under pressure from Europe vetoed the choice of the euroskeptic economy minister, Paolo Savona, we warned that this outcome was even worse for markets than the one which most had dreaded, namely Mattarella folding and greenlighting the 82-year-old professor for reasons we laid out article from Sunday.

Algos still don’t understand that appointment of Savona was “best” worst case scenario https://www.zerohedge.com/news/2018-05-27/toxic-coup-narrative-why-italys-political-crisis-may-be-set-explode 

“A Toxic Coup Narrative”: Why Italy’s Political Crisis May Be Set To Explode

“The most worrying points are: toxic “coup” narrative developing; in the next days, if the crisis worsens, calls for a show of force will grow louder. Plus, Savona’s appointment means Lega is dead…

zerohedge.com


What happened next was a full court press by so-called experts and momentum reversal algos to spin yesterday’s outcome as good news, and sure enough in early trading the EUR bounced sharply, rising above 1.17, Bunds slumped, and Italian bonds and stocks gapped higher at the open.

… And then all hell broke loose when, just as we predicted, Mattarella’s decision simply reinforced the League’s hard line position, when shortly after the open League leader Matteo Salvini reiterated his support for Savona, and in a Facebook video said that “either EU rules will change or it makes no sense for Italy to remain in the European Union.” Worse, dragging Italy to the verge of the constitutional crisis we warned about yesterday, Salvini turned the nation against the Brussels-lackey president and said that Mattarella “chose EU rules over Italians’ vote” which “is an issue for democracy.”

And the punchline: the League would still seek to form a government with people rejected by Sergio Mattarella.

…click on the above link to read the rest of the article…

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