With the Italian elections come and gone from last week, we are no closer to a government in place than we were last Monday and yet to declare a winner. However an eerie sense of calm has presided over markets and after the initial shock reaction at the result things have improved.
Perhaps you could view this election result as a win for the people of Italy and a sign that things may actually change in the country that has been dogged by corruption, bureaucracy and poor discipline on the fiscal front. The people of Italy have spoken and even though the result was varied the rise of Beppe Grillo and his 5 star movement speaks more than the votes attributed to the old guard Like Berlusconi.
What Grillo lacks in political acumen and policy making experience he sure makes up for in populism and listening to the people. His “policies” are idealistic and with that brings an air of charisma that perhaps the youth of Italy can look to and take inspiration from and hopefully inspire a generation to operate in a new way and not the old habits of the past. He seems to borrow from both left and right and I guess you could say a vote for Grillo is a vote for democracy to work more efficiently and a sign that whoever does eventually get put into government is going to have to work in a more bi-partisan (excuse the buzzword) nature, something that is sadly lacking across many top economies in the world currently namely the US.
I still believe his lack of experience does not lend himself to be best placed to run the country and was initially scornful of the thought of wasting a vote on him, however perhaps there is a role to play for Grillo in some capacity and hopefully that is holding those in power accountable for their actions and ensuring the government is working for the people and not self interest, an enforcer of sorts.