Italy’s first female leader, Amazon’s monopoly 22 Sep 2022 Far-right leader Giorgia Meloni is favourite to become prime minister after Sunday’s election. In this Viewsroom podcast, Breakingviews columnists debate how she will handle Rome’s debt, which is expected to reach 148% of GDP. And: the online retail giant’s antitrust battle.
Corporate lemons will vex Italy’s next government 22 Sep 2022 Premier Mario Draghi couldn’t sell bailed-out Monte Paschi nor halt a share slide at indebted Telecom Italia. If right-wing Giorgia Meloni wins Sunday’s election, she will have to untangle such company knots. Her zeal for patriotic solutions may prove costly and inefficient.
How Italy could tip into a tailspin 19 Sep 2022 Investors think the country will probably muddle through if Giorgia Meloni, a former post-fascist and eurosceptic, becomes its next prime minister. But there’s still a medium-term risk that Italy’s massive debt will spin out of control, says Hugo Dixon.
Italy’s first female PM is red flag for workwomen 16 Sep 2022 Ultra-right politician Giorgia Meloni is likely to become the next premier. She opposes boardroom quotas that have lifted female representation from less than 7% to 41% in a decade. Scrapping them would be a setback for a country struggling with stubbornly low female employment.
Italy’s next government has tricky to-do list 13 Sep 2022 A rightist coalition is poised to win Italian general elections this month. In this week’s Exchange podcast Muzinich’s Fabrizio Pagani discusses the next executive’s immediate economic challenges. These include coping with an energy crisis, high public debt and a bailed-out bank.
Trussonomics may freak out the markets 5 Sep 2022 If the UK’s new prime minister was only planning big energy subsidies, investors might not worry too much. But Liz Truss is also planning tax cuts – and may pick fights with both the Bank of England and European Union. If so, the pound could be clobbered, says Hugo Dixon.
Japan’s Kishida inherits growing China headache 11 Jul 2022 The Prime Minister’s party increased its majority in Sunday’s election after former leader Shinzo Abe was shot. It’s now easier for Fumio Kishida to crank up defence spending and attack waning competitiveness. The former will anger China’s leaders; the latter will amuse them.
Italy starts countdown to risky life after Draghi 5 Jul 2022 The 5-Star party may bring down Mario Draghi’s coalition government. A crisis would hurt growth and raise the chances of a less EU-friendly executive. Worse, market jitters due to rising political uncertainty may complicate the European Central Bank’s efforts to tame bond yields.
Money can’t buy Ken Griffin political happiness 29 Jun 2022 Citadel’s founder backed an Illinois candidate for governor with a $50 mln donation but lost. The winner, a farmer, also has deep-pocketed backers. He will go up against Hyatt heir J.B. Pritzker. As billionaires on both sides up political stakes, they will cancel each other out.
Macron has narrow path to avoid domestic stalemate 20 Jun 2022 His party’s poor showing in parliamentary elections diminishes the French president’s authority and casts doubt on planned reforms like a pensions overhaul. He could still govern if he forms a coalition with the conservatives. But any deal will come with substantial concessions.
Financiers may pave U.S. campaign trail with gold 27 May 2022 With ex-Bridgewater boss David McCormick questing for a Senate seat, more Wall Streeters could try their hand at politics. Wealth built in bull-market times can give even novices a lift. And from Ken Griffin to Jamie Dimon, there’s no shortage of finance bosses with strong views.
Australian election augurs serious climate upgrade 23 May 2022 Labor’s more ambitious green goals helped unseat the conservative coalition. Wins by climate-focused independents warn further against complacency. New Prime Minister Anthony Albanese also will rely on Greens for support. Bolder 2035 emissions targets would set the right tone.
Drought of economic ambition blots Aussie election 20 May 2022 Despite a 48-year low in joblessness and navigating the pandemic, Prime Minister Scott Morrison’s party is in a dogfight. Homebuyer and dam-building policies smell fishy, and a lack of climate leadership hurts too. As times get tougher, whoever wins will have to be bolder.
Marcos clan’s return to Manila is awkwardly timed 11 May 2022 The Philippines’ president-elect Ferdinand Marcos Jr, son of the late strongman, inherits an economy that grew 7.7% last quarter, but faces mounting headwinds. He will have to find drivers beyond the infrastructure spending that made his predecessor – and father - so popular.
Post Roe-leak, it’s not the economy, stupid 6 May 2022 Republicans were in a sweet spot ahead of November’s U.S. elections. Joe Biden’s early presidency has brought inflation, a failed attempt to tax the rich, and little help for the middle class. A leaked Supreme Court opinion on abortion, though, changes the calculus.
Macron’s easy election victory masks big challenge 24 Apr 2022 The French president has won a second term. It will be harder than his first. His party may lose its majority in parliament within months. And he will struggle to implement a bold and costly agenda in a divided country. His room for policy manoeuvre looks limited.
Spendthrift Macron will hit harsh fiscal reality 21 Apr 2022 The French president must attract left-leaning voters to win a second term, and then a parliamentary majority. But financing pledges, like big investments in green energy, will mean choosing between higher taxes and worsening public debt levels. He’s likely to opt for the latter.
Macron-Le Pen replay reveals deeper French splits 10 Apr 2022 President Emmanuel Macron resisted a surge in support for his far-right challenger Marine Le Pen in the first round of elections. But the vote laid bare more divisions than existed five years ago. These rifts will make running the euro zone’s second biggest economy arduous.
Culture wars: Musk’s Twitter punt, French election 7 Apr 2022 Outspoken political and business leaders are making big moves. In this Viewsroom podcast, Breakingviews columnists discuss why Twitter may have reaped the benefits from Elon Musk’s investment and how French President Emmanuel Macron needs to work hard to win over voters.
Macron’s smallest problem is winning second term 4 Apr 2022 The French president’s lead over contender Marine Le Pen is shrinking. But a decent economic record and a divided opposition mean he’s the favourite to win the upcoming election despite asking the French to work more. Tougher years lie ahead to implement his manifesto.