‘Anti-Euro’ groups lead in Italian election, likely to end in hung parliament as no party gets absolute majority

Rome: The preliminary results of the elections held in Italy on Sunday have been declared. It has been seen that the parties that have adopted aggressive stance against the European Union (EU) policies have garnered maximum votes. Former Italian Prime Minister, Silvio Berlusconi, who took an aggressive stand against refugees, ‘League’ and ‘Brothers of Italy’ got 37% votes. Whereas, ‘Five Star Movement’ opposed to the EU policies got 32% votes. As Berlusconi led front failed to get majority there is a possibility of a hung parliament and this could have serious repercussions across Europe.

italy, electionsThe elections on Sunday saw about 73% votes casted. In an election fought on the issues of refugee influx, EU policies and economy, the results proved that the issue of refugees was the most important. In Italy, the ‘Five Star Movement’ and the ‘League’ had taken an aggressive stand against the refugees and the Euro currency. Former Prime Minister, Silvio Berlusconi, trapped in the corruption and the other accusations had indicated a political comeback forming an alliance with ‘League’ and ‘Brothers of Italy’.

The pre-poll predictions were indicating that Silvio Berlusconi’s party ‘Forza Italia’ will get the maximum votes. But in reality, the ‘Five Star Movement’ got the maximum votes and emerged as the single largest party. The ‘League’, Berlusconi’s alliance partner earned an unexpected success. Out of the 37% vote share, 18% votes have been captured by ‘League’, 14% by ‘Forza Italia’ and remaining votes have been captured by ‘Brothers of Italy’. The ruling ‘Democrat’ party had to be satisfied with only 23% votes.

There are indications of resignation by the current Prime Minister, Matteo Renzi, in wake of the election results. The right wing and aggressive leaders have welcomed the election verdict in Italy and these include Nigel Farage from Britain, Marine Le Pen from France and Geert Wilders from Netherlands. The leaders in other European countries have termed this as a victory of the ‘Populistic Political Policies’.

There are severe repercussions of the Italian results on the European economic sector and the Euro has declined considerably. The major share markets in Europe have also crashed.