The 2013 Italian general election: a new source of European instability?

Source: Italian Parliament

The Italian general election took place on 24–25 February with the lowest voter turnout since the 1950s (under 75 per cent) and did not produce a clear parliamentary majority. It has left Italy politically deadlocked whilst rekindling fears of a new source of European instability.

European press and politicians have suggested that an uncertain election result in the Eurozone’s third largest economy (after Germany and France) has renewed fears of an imminent crisis in the Eurozone. Trading on the international financial markets was affected after the results were announced, as Italy’s markets slumped and the global oil price dropped. The Australian Broadcasting Corporation (ABC) reported that the Australian share market was also adversely affected.