Italy has witnessed a dramatic week. The Italian parliament was called in to elect a new President of the Republic. In normal times this could have been a straight forward affair, since the post is of mainly representative nature. But these are not normal times. With the economy in free fall, the unemployment rate on a level not seen in two decades and the trust in the political class on an all-time low, the President is now regarded as the only institution able to hold the Italian Republic together, not a minor assignment by any means. The task has fallen again onto Giorgio Napolitano‘s (age 87) shoulders. Continue reading
