PARIS—It’s time to retire the famous line by the Italian writer Ennio Flaiano, that in Italian politics, the situation is “always grave but never serious.” Today, it’s fair to say the situation is both grave and serious. The implosion on Sunday of a populist governing coalition—after Italy’s president vetoed the coalition’s choice of a euroskeptical economist as finance minister—has achieved three results, none of them good for the stability of Italy or Europe. It’s set Italy on the path to new elections. It’s strengthened the hand of the right-wing, anti-immigrant League party. And it’s turned Italy into a de facto referendum on the euro—an unprecedented development in a core member of the European Union and single currency. [...]
It’s the latest example of a short-circuit that was tripped when the European debt crisis began a decade ago: Mattarella’s move may be good for short-term stability in the European Union, but it’s not great for democracy—which in turn emboldens the populists who increasingly see the bloc as anti-democratic. The appointment of Cottarelli is a gift for the League, whose leader, Matteo Salvini, campaigned all along on a platform of liberating Italy from servitude to Brussels and Berlin. Meanwhile, the leader of the Five-Star Movement, Luigi di Maio, who only days ago said it was up to the president to choose ministers, has now set Italian social media on fire with calls for Mattarella’s impeachment because he intervened in selecting ministers, and has also called for mass mobilizations across Italy “to manifest our right to determine our future.” [...]
But in rejecting Savona, Mattarella had good reasons. He said on Sunday that any conversations about Italy’s membership in the euro should be held in public—especially since euro membership wasn’t an issue for debate in the platform agreed on by the Five-Star Movement and the League for the government they put forth last week. The League’s Salvini has flip-flopped in recent years on whether he wants Italy to stay in the euro. In the past, he’s said he wants a referendum on euro membership; during the campaign, he moderated his tone on the euro but raised it on immigration. Meanwhile, Di Maio of the Five-Star Movement kept quiet on the euro during the campaign, but the movement’s founder, Beppe Grillo, said this month that he wanted a “consultative referendum” on the currency. “It might be a good idea to have two euros, for two more homogeneous economical regions. One for northern Europe and one for southern Europe,” he told Newsweek this month.
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