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Brothers of Italy leader Giorgia Meloni poses with her ballot at a polling station in Rome.
What We’re Watching: Italian far-right wins big, Russia holds sham votes in Ukraine
Far-right sweeps to power in Italian election
As expected, a three-party coalition led by the far-right won Italy's legislative election on Sunday, paving the way for Giorgia Meloni to become the country's first female PM and most rightwing leader since Benito Mussolini. With almost all ballots counted, Meloni's Brothers of Italy party came in first with over 26% of the vote. Along with Lega and Forza Italia, the coalition she leads will get more than 43% — enough for a majority of seats in both the 400-member lower house of parliament and the 200-member Senate. What happens next? The three parties have about six weeks to form a government captained by Meloni, who's pretty radical on some things but less so on others. She wants to stay in the EU but for Brussels to have less power over Italian affairs. Meloni also backs EU and NATO moves to support Ukraine against Russia (unlike one of her two junior coalition partners, former PM Silvio Berlusconi, a longtime Vladimir Putin pal who seemed to defend Russia's invasion on the eve of the election). Still, Meloni's top priority now is ensuring that Italy gets all the EU pandemic relief cash it needs to weather high inflation and an energy crisis.
Russia pushes to annex occupied regions in sham referenda
Russia keeps moving to formally annex four Ukrainian regions currently under its occupation. On Friday, five days of referenda got underway in Luhansk, Donetsk, Kherson, and Zaporizhzhia. While the Western media reports that armed soldiers are going door-to-door to collect votes, Russian state media says they’re just around for security. Expected to wrap on Tuesday, the referenda could end up with Russia gobbling up some 15% of Ukraine. Annexations would be in violation of international law. Still, they would also give Russia cover to resist future Ukrainian advances by claiming any assaults as attacks on Russian sovereignty, which could lead to further escalation. Fighting in the region continues, and the Ukrainians claim to have taken out several Russian armor and artillery systems. Kyiv, for its part, has appealed to loyal residents in affected areas to “resist” the plebiscites. Meanwhile, the White House has called the referenda a sham, and the G7 has followed suit. The Brits claim to have evidence that Russia is planning to formalize the annexation by the end of the month.
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From left to right, Lega leader Matteo Salvini, Forza Italia leader Silvio Berlusconi, and Brothers of Italy leader Giorgia Meloni during a campaign rally in Rome.
What We're Watching: Italian election, Chinese anti-corruption drive, Lebanese bank shutdown
Italy votes!
Italians head to the polls on Sunday and are likely to elect Italy’s first far-right leader since World War II. Giorgia Meloni, 47, who heads the Brothers of Italy Party (which has neofascist roots) is slated to become Italy’s next PM. Polls indicate Brothers will win about a quarter of the vote, while her three-party coalition, including Matteo Salvini’s far-right Lega Party and Berlusconi’s Forza Italia, is projected to secure around 45%. Four years ago, Brothers – established in 2012 – reaped just 4% of the vote, but it has benefited recently from the left’s implosion as well as Meloni’s refusal to back the centrist Draghi government, which collapsed this summer, making her the most formidable opposition figure (Salvini and Berlusconi backed Draghi). Italy has convoluted voting rules but will be voting on 400 seats in the Chamber of Deputies (lower house) and 200 seats in the Senate – the winning coalition needs a majority in both. Meloni aims to dilute the EU’s power over Italian affairs, though she believes Rome must preserve close ties with Brussels, and she supports EU and NATO efforts to contain Russian aggression. Read this primer to learn more about what Meloni does – and doesn’t – stand for.
Xi's war on corruption — and disloyalty
A Chinese court on Thursday gave one of Xi Jinping’s former anti-corruption top dogs a death sentence that will be commuted to life in prison after two years for ... bribery. Fu Zhenghua, a former police chief and justice minister who led multiple probes under Xi's former anti-graft czar, pleaded guilty in July to taking $16.5 million in bribes, presumably in exchange for the commutation. The plot thickens: Fu was busted amid a wider crackdown on a ring of dirty ex-cops led by Sun Lijun, who’s awaiting his own sentence for bribery. But as far as the ruling Communist Party is concerned, their most heinous crime was setting up a political faction separate to Xi’s, which is why its members are getting hefty punishments. (Juicy tidbits of their case were featured in “Zero Tolerance,” a slick state-sponsored docuseries that celebrates the success of Xi's war on graft.) The timing is interesting too: in about three weeks, the CCP is holding its 20th Party Congress, where Xi is expected to get a precedent-shattering third term as secretary-general. The party has a penchant for taking down dirty officials ahead of big dates, but going after a clique of cadres disloyal to Xi sends a clear message: don’t cross the big boss.
Unbanked Lebanon
Lebanese can’t catch a break. They’ve had their dollar savings withdrawals strictly limited since the Lebanese pound dropped in late 2019. And now, two weeks after a woman held up a bank to withdraw part of her own savings to pay for her sister's cancer treatment, inspiring copycat heists, the banks have simply shut. Citing security concerns, the country’s banking association says all banks will remain closed indefinitely. ATM services in pounds are available, but the shutdown is expected to make things even worse for the 80% of Lebanese who already struggle to pay for their daily needs with the weakened currency amid sky-high inflation. This is just the latest twist in Lebanon’s descent into economic collapse, which started three years ago. The government, meanwhile, keeps giving the International Monetary Fund the runaround on the economic reforms required to unlock a $3 billion bailout. One of the conditions is to give small depositors access to their savings.
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Giorgia Meloni, leader of Italian far-right party Brothers of Italy, gestures during a campaign rally in Turin.
How far to the right is Italy’s soon-to-be prime minister?
Until recently, Giorgia Meloni was on the fringes of Italian politics. Now the leader of the far-right Brothers of Italy Party is likely to become the country’s first female prime minister when Italians head to the polls on Sept. 25.
A self-styled anti-globalist, Meloni has for the most part embraced her far-right reputation within an Italian electorate that relishes anti-establishment candidates. But in an age when the term ‘far-right’ has become a catchall, what does Meloni really stand for and what will her election mean for Italy’s politics and economy?
Mother of the Brothers
Meloni – a former minister for youth in then Prime Minister Silvio Berlusconi’s cabinet – has headed the breakaway nationalist Brothers of Italy Party since 2014. Avowedly anti-immigrant and proud of its nativist bonafides, the party has roots in Italy’s neofascist parties of the 1940s.
Meloni’s party is currently slated to reap 25% of the vote, while her three-party coalition – including Matteo Salvini’s far-right Lega Party and Berlusconi’s Forza Italia – would together secure around 45%. The bloc, expected to win majorities in both legislative chambers, could even win a two-thirds supermajority. Importantly, this would allow it to make constitutional changes without holding a referendum.
Indeed, Meloni’s conservative far-right credentials are well-established. In refusing to join former Prime Minister Mario Draghi’s center-left national unity government last year, she emerged as an attractive candidate for protest voters (Salvini and Berlusconi both supported it). She has called immigration to Italy a form of “ethnic substitution” and has rallied against globalist elites as well as the “LGBT lobby.”
A former journalist and Italy’s youngest-ever cabinet minister, Meloni is not your run-of-the-mill far-right nationalist. Unsurprisingly, she is not a huge fan of the European Union, saying at a recent debate: “If I win, for Europe, the fun is over,” adding that Brussels should leave “the issues closest to the lives of citizens” to member states. What’s more, the Brothers have aligned in the European parliament with Poland’s Law and Justice Party that’s long been on a collision course with the EU.
Still, Meloni’s not a proponent of tear-it-down politics. Unlike her coalition partners, Meloni is firmly pro-NATO and supports Brussels’ ongoing economic sanctions on Russia. But Meloni also says that European solidarity “has limits,” calling out Germany in particular for opposing caps on the price of gas because of contracts with Russian state energy companies.
A tricky balancing act. Meloni appears to have tempered her tough-on-Brussels stance in recent weeks, emphasizing that she’s not keen to pick fights and will prioritize Italy’s economy, burdened by massive debt and an energy crunch.
A savvy politician who joined the political fray as a student, Meloni also knows that solid ties with Brussels are crucial to keeping Italy’s economy afloat. As part of Brussels’ bloc-wide pandemic recovery plan, Rome is slated to get almost 200 billion euros from the EU Commission. Brussels also bailed out Rome in 2012 from a debt crisis, and although Italy’s debt to GDP ratio remains sky-high – more than 150% at the end of 2021, which puts it in the world’s top 10 – it is manageable only because the European Central Bank has bought much of Italy’s debt.
“European debt substitutes Italy's debt,” says Carlo Bastasin, a Europe economic and political expert at the Brookings Institution. Indeed, the ECB bought 250 billion euros worth of Italian debt between March 2020 and December 2021 to stabilize the eurozone.
However, the doling out of post-COVID funds is contingent on Italy enforcing structural economic reforms. The incoming far-right coalition has said the EU provisions should be amended given recent geopolitical developments. But it has also proposed broad tax cuts among other big spending schemes that will certainly make for some frosty conversations in Brussels.
One of the most important factors in determining the stability of the government, Bastasin says, “is how the European Central Bank will manage the required increase in interest rates” to curb inflation. If its intervention is too heavy- handed, he says, it might “corner Italy’s government, making its financial situation unstable and the basis of the government wobbly.”
As Italy prepares to usher in its most Eurosceptic government in years, some analysts have pointed to Hungary’s complex relationship with Brussels as a sign of what’s to come. Under ultra-conservative PM Viktor Orbán, Budapest has refused to comply with EU reforms needed to unlock much-needed cash. But Bastasin says the comparison between the two is flawed: “Hungary has been subsidized by the EU Commission and EU partners forever, while Italy is a net creditor to the Commission. It gives to Brussels more than it receives.”
What’s more, he adds, Italians, for the most part, have a lot of love for the European Union. “In Poland and Hungary they don't have the same affinity for European integration. They never have.”
Meloni is likely to come into office with a solid mandate to govern, but the road ahead will be anything but smooth.