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24. Italy Follows Greece As President Vote Guides Renzi Fate

Fri Dec 12, 2014, 08:06 AM

Dec 2014

http://www.bloomberg.com/news/2014-12-11/italy-follows-greece-with-president-vote-seen-guiding-renzi-fate.html

History shows that where Greece treads, Italy tends to follow.

As investors brace for a Greek presidential succession that could sink the government, Italy faces its own dilemma over appointing a new head of state after Giorgio Napolitano indicated that he’ll consider stepping down in the new year.

Unlike in Greece, the role of Italian president is more than just ceremonial, expanding at times of political crisis to include the power to dissolve parliament, call new elections and designate a prime minister: It was Napolitano, 89, who picked Matteo Renzi, 39, as premier in February. That turns the looming contest over the successor to Italy’s oldest president of the post-World War II period into a showdown that will help determine the fate of its youngest prime minister.

“In Italy, the presidential vote has often been used to harm political figures who have become too strong,” said Giovanni Orsina, a history professor at Luiss University in Rome. “And Renzi is the strongest one right now.”

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