Constantine Fraser at TS Lombard thinks Italy’s “pussycat populists” are no longer the “nightmare” the EU once feared. Expect compromise ministerial candidates and a palatable prime ministerial choice in the days ahead. “The Italian political system is terrible at yielding strong, stable governments with a mandate to take difficult decisions. But it still does well what it was designed to do following the fall of fascism: to diffuse power, deflect political impulses, and generally throw up obstacles to ambitious programmes of all kinds”, adds Mr Fraser.
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