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This week in history: April 19-25 18 April 2021 25 years ago: Stalinist-led coalition in Italy On April 21, 1996, general elections in Italy brought the rebranded Italian Stalinists into government for the first time in nearly 50 years. Reflecting the confidence which big business placed in the post-Stalinists, the Milan stock exchange soared 4 percent the day after the vote. The Stalinists who transformed the old Communist Party of Italy into the Party of the Democratic Left (PDS) in 1991, after the collapse of the Soviet Union, now had control over the largest bloc of seats in the ruling Ol...

© Getty Images In assessing the new Italian government led by former European Central Bank President Mario Draghi, many analysts miss an essential point. The focus, of course, should be Italy — its issues and the crisis Draghi will face, starting with the pandemic. But the chances are high that his leadership will have an impact well beyond Italy, dramatically changing politics and economics across Europe.  It’s still early, of course, but the stars have aligned domestically in Italy and at the European Union level to make such a wider change possible. Yet, extraordinarily, some interna...

Italy has a new prime minister; the seventh in the last 10 years. For a while, Italy always seemed to be in the process of forming a new administration. Despite the seemingly revolving doors at Palazzo Chigi, Italian institutions are reasonably resilient. Many other countries would have struggled with such changes; in this case, Galileo’s observation seems to be very apt: “Eppur si muove”. The collapse of Giuseppe Conte government’s over the handling of the COVID-19 pandemic and its economic fallout led President Sergio Mattarella to summon Mario Draghi to the Quirinale and task him ...

Mario Draghi, former president of the European Central Bank, has been appointed prime minister after the government collapsed.

Mario Draghi As Savior: Broken Democracy, Italian-Style 2021-02-05 Of Italy's 58 prime ministers since World War II, you probably don't remember the name Lamberto Dini. He took office on Jan. 13, 1995, several months after uncertain general election results, as the country grappled with an ongoing corruption scandal and billionaire businessman Silvio Berlusconi's recent entry into politics. The Italian establishment had turned to Dini, a sullen-faced economist and former Bank of Italy official, to lead a new government — and essentially save Italy from ...