Italian Election Fallout: Basta! to austerity party

Ireland is likely to be among those to gain concessions from policymakers anxious to avoid a euro area crisis, writes Megan Greene.

Voters casts their ballot at a polling station in Rome last Monday. Photo: Giorgio Cosulich/Getty

The Italian electorate sent a clear message last Sunday and Monday about the path of austerity and structural reform their country has been on for the past year-and-a-half: basta! Enough! Over half of the Italian population voted in favour of parties that are overtly against austerity. Beppe Grillo's Five Star Movement, which is against euro area membership, emerged as the most popular single party. Mario Monti, the outgoing prime minister who has prioritised ...