Italy’s Populists Outperform Established Parties in Sunday’s Election

Italy’s anti-establishment groups surged in Sunday’s election as voters punished the mainstream parties for years of economic decline, rising taxes and a wave of immigration, casting doubt on the country’s future political direction.Projections based on ballot-counting on Monday morning suggested the two forces with the most gains, the euroskeptic Five Star Movement and the anti-migrant League, could reach a majority in at least one of the houses of the Rome-based parliament should they join forces. The two parties could have a majority of about 345 seats combined in the 630-strong lower house, according to projections from RAI television.That would first require the League to break its electoral pact with the other center-right parties. After that, weeks of horse-trading would be needed before a new government could be appointed, creating uncertainty in markets throughout the European Union.

Source: Italy Populists Break Establishment Grip, Quest for Power Opens – Bloomberg

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