Political gridlock in Italy it is; election polls point to hung parliament
It looks like political gridlock in Italy as none of the coalitions or parties have been able to reach the 40 percent of votes needed to gain a majority in Rome.
Italis 5 Star will be the largest single party according to the exit polls and looks like it gets the biggest share of votes, around 30% for the lower house and similar in the upper house, between 33%-36%.
Possible scenarios to choose from here?
Experts have explained that it would be unlikely to see a coalition involving PD, Luigi Di Maio’s Five Star Movement and right-wing Liberi e Uguali. An easier option might be to have the parties creating a large government coalition. If the elected leaders weren’t able to find an agreement, Italian President Sergio Mattarella would then have to adopt another solution. However, party leaders had hinted at the potential post-election coalition that could be formed should nobody be able to gain a majority.
Meanwhile, the euro is catching a bid as traders prefer to acknowledge the positive news from German politics with SPD members who had approved a coalition with Merkel's CDU/CSU over the weekend with a vote of 66.02%, (78.3% of SPD members participated in the vote).
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
