Re-elected Napolitano mulls Italy government
Source: Agencies |
April 23, 2013, Tuesday
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Print Edition
Print Edition
PRESIDENT Giorgio Napolitano headed yesterday into his unprecedented second term with the daunting task of trying to find a candidate who can form a government two months after national elections left Italy with no clear winner and an increasingly discredited political class.
The 87-year-old Napolitano was taking his oath of office later in the day and also addressing the nation about the need to bring recession-mired Italy out of its political paralysis and the euro-zone's third-largest economy back on the path of financial reforms and growth.
He was re-elected on Saturday after politicians failed to find a new presidential candidate who could win a majority of Parliament and regional voters.
The divisive process resulted in the implosion of the center-left Democratic Party, whose leader resigned. It also galvanized the anti-establishment 5-Star Movement, which has campaigned on sending Italy's entire political class packing.
Investors were relieved by the re-election of the widely respected Napolitano. The main stock index in Milan rose 1.8 percent, the strongest gain in Europe.
Analysts suggested Napolitano's hand is stronger now than when he first asked Democratic leader Pier Luigi Bersani to try to form a government. That came after Bersani's forces won control of the Chamber of Deputies in elections. Bersani failed, leading to the current stalemate.
With a new seven-year mandate, Napolitano can dissolve Parliament and call new elections. It's a threat that could help him as he urges political parties to find a viable premier who can form a government and win a mandatory vote of confidence.
The 87-year-old Napolitano was taking his oath of office later in the day and also addressing the nation about the need to bring recession-mired Italy out of its political paralysis and the euro-zone's third-largest economy back on the path of financial reforms and growth.
He was re-elected on Saturday after politicians failed to find a new presidential candidate who could win a majority of Parliament and regional voters.
The divisive process resulted in the implosion of the center-left Democratic Party, whose leader resigned. It also galvanized the anti-establishment 5-Star Movement, which has campaigned on sending Italy's entire political class packing.
Investors were relieved by the re-election of the widely respected Napolitano. The main stock index in Milan rose 1.8 percent, the strongest gain in Europe.
Analysts suggested Napolitano's hand is stronger now than when he first asked Democratic leader Pier Luigi Bersani to try to form a government. That came after Bersani's forces won control of the Chamber of Deputies in elections. Bersani failed, leading to the current stalemate.
With a new seven-year mandate, Napolitano can dissolve Parliament and call new elections. It's a threat that could help him as he urges political parties to find a viable premier who can form a government and win a mandatory vote of confidence.
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