Sometimes translation is not too difficult. The headlines on Corriere Della Sera’s website at one point tonight said it all:
Caos Senato, non c’è maggioranza, Boom di Grillo, rimonta di Berlusconi…
Chaos in the senate (where there’s no majority), a Grillo “boom”, and a Berlusconi revival . . .
A vote against the euro, then?
And so we get to today. Voters are disgusted by the corruption so evident in their domestic political class, but they are also outraged by the imposition of austerity from abroad (the fact that much of this austerity is counter-productive does not exactly help either) and the unraveling of Italy’s economy. I still reckon (if less confidently than if you’d asked me a year ago) that, if it came down to it, Italians would prefer to stick with the euro rather than switch back to an ever-depreciating lira, but at the same time they do not want to pay the price that that involves. Irresistible force, immovable object, you know how it goes.
What’s next is an almighty mess, but the form that that mess might take is, for now, anyone’s guess.
And as to where it might spread, well . . .