The Japan Times - Italy's President Sergio Mattarella re-elected, easing crisis

EUR -
AED 3.823425
AFN 78.523117
ALL 98.353061
AMD 419.226171
ANG 1.883134
AOA 950.915791
ARS 1090.120947
AUD 1.659257
AWG 1.876315
AZN 1.765548
BAM 1.956856
BBD 2.109638
BDT 127.418742
BGN 1.956453
BHD 0.392378
BIF 3091.727375
BMD 1.040952
BND 1.41389
BOB 7.219895
BRL 6.187107
BSD 1.044864
BTN 90.333867
BWP 14.451797
BYN 3.419345
BYR 20402.651136
BZD 2.098832
CAD 1.497737
CDF 2961.507163
CHF 0.943435
CLF 0.037397
CLP 1031.905614
CNY 7.577914
CNH 7.581292
COP 4435.494719
CRC 525.488547
CUC 1.040952
CUP 27.585217
CVE 110.32452
CZK 25.144138
DJF 186.060379
DKK 7.460189
DOP 64.115206
DZD 140.974701
EGP 52.36674
ERN 15.614274
ETB 133.655791
FJD 2.409127
FKP 0.857314
GBP 0.845159
GEL 2.977012
GGP 0.857314
GHS 15.82954
GIP 0.857314
GMD 75.989283
GNF 9032.046282
GTQ 8.07628
GYD 218.497879
HKD 8.108441
HNL 26.600606
HRK 7.681752
HTG 136.446234
HUF 410.842948
IDR 16904.533323
ILS 3.690796
IMP 0.857314
INR 89.961642
IQD 1368.725272
IRR 43824.062223
ISK 146.086663
JEP 0.857314
JMD 163.950025
JOD 0.738454
JPY 163.010845
KES 134.54269
KGS 91.031051
KHR 4212.353478
KMF 491.958944
KPW 936.856545
KRW 1496.783686
KWD 0.320863
KYD 0.87077
KZT 544.293644
LAK 22791.295799
LBP 93566.378631
LKR 312.018332
LRD 206.879623
LSL 19.304315
LTL 3.07366
LVL 0.629661
LYD 5.139773
MAD 10.425825
MDL 19.486513
MGA 4897.689331
MKD 61.532729
MMK 3380.970155
MNT 3537.15361
MOP 8.381541
MRU 41.616852
MUR 48.424807
MVR 16.041342
MWK 1811.79486
MXN 21.331807
MYR 4.627046
MZN 66.527137
NAD 19.304315
NGN 1622.760003
NIO 38.451483
NOK 11.742146
NPR 144.537366
NZD 1.836952
OMR 0.400695
PAB 1.044864
PEN 3.897265
PGK 4.254336
PHP 60.992995
PKR 291.356786
PLN 4.223292
PYG 8264.458637
QAR 3.813457
RON 4.975803
RSD 117.140354
RUB 103.312986
RWF 1465.904931
SAR 3.904931
SBD 8.821782
SCR 15.430395
SDG 625.611567
SEK 11.456031
SGD 1.411265
SHP 0.857314
SLE 23.62608
SLL 21828.234254
SOS 597.127884
SRD 36.516475
STD 21545.596211
SVC 9.142933
SYP 13534.45254
SZL 19.289407
THB 35.285655
TJS 11.43576
TMT 3.65374
TND 3.316389
TOP 2.438014
TRY 37.118879
TTD 7.097829
TWD 34.064073
TZS 2628.403018
UAH 43.884697
UGX 3845.0744
USD 1.040952
UYU 45.725108
UZS 13572.322205
VES 57.971923
VND 26081.042052
VUV 123.583863
WST 2.915525
XAF 656.317385
XAG 0.033965
XAU 0.000378
XCD 2.813224
XDR 0.805042
XOF 656.311077
XPF 119.331742
YER 259.248645
ZAR 19.267259
ZMK 9369.814276
ZMW 29.125713
ZWL 335.185987
  • RBGPF

    61.2800

    61.28

    +100%

  • SCS

    -0.2200

    11.58

    -1.9%

  • BCC

    -1.2000

    127.92

    -0.94%

  • JRI

    -0.0400

    12.53

    -0.32%

  • RIO

    -0.6100

    61.12

    -1%

  • RELX

    -0.2900

    49.26

    -0.59%

  • BCE

    -0.2400

    23.15

    -1.04%

  • NGG

    -1.5400

    60.05

    -2.56%

  • GSK

    -0.3500

    33.43

    -1.05%

  • CMSC

    -0.0600

    23.49

    -0.26%

  • CMSD

    -0.0400

    23.96

    -0.17%

  • RYCEF

    0.1500

    7.42

    +2.02%

  • AZN

    0.2400

    68.2

    +0.35%

  • BTI

    -0.1600

    36.57

    -0.44%

  • VOD

    -0.1700

    8.38

    -2.03%

  • BP

    -0.3900

    31.13

    -1.25%

Italy's President Sergio Mattarella re-elected, easing crisis
Italy's President Sergio Mattarella re-elected, easing crisis

Italy's President Sergio Mattarella re-elected, easing crisis

Italy's parties Saturday voted overwhelmingly for outgoing President Sergio Mattarella to remain for another term, averting the political chaos a failure to elect his successor could have sparked in the eurozone's third-largest economy.

Text size:

Electing the 80-year-old ended weeks of hand-wringing over whether prized Prime Minister Mario Draghi should be elevated, with many fearing such a move would have left the government rudderless at a highly sensitive time.

Mattarella needed to pocket 505 or more votes. He won 759, earning him another stint as president in spite of himself.

The former constitutional court judge had repeatedly ruled out serving for a second term, but gave in Saturday after Italy's bickering political parties failed to find another viable candidate.

"I had other plans, but if it's necessary, I'm available," he said before the vote, according to party parliamentary representatives.

He was expected to be sworn in on Wednesday or Thursday.

Constitutional expert Gaetano Azzariti earlier told AFP Mattarella's election would be for the full seven-year term, but he could resign earlier.

Draghi said the result was "wonderful news for Italians".

French President Emmanuel Macron was quick to tweet his congratulations to "dear Sergio".

Italy's presidency is largely ceremonial, but the head of state wields serious power during political crises, from dissolving parliament to picking new prime ministers and denying mandates to fragile coalitions.

- 'Big sacrifice' -

Matteo Salvini, head of the far-right League party, was the first to openly propose the popular outgoing president Saturday, after putting forward a candidate Friday that flopped.

Billionaire Silvio Berlusconi, who took a failed shot at the presidency himself, also said his party would ask Mattarella "to make a big sacrifice", as did the centre-left Democratic Party (PD).

Only the far-right Brothers of Italy party was against asking him to stay on.

A double mandate is not entirely unprecedented. In 2013, president Giorgio Napolitano was elected to stay on, in an attempt to resolve the political stalemate left by an inconclusive general election. He served nearly two more years.

Mattarella has already served a tumultuous seven-year term, during which he has sought to be a unifying figure through five different governments and the devastation of coronavirus.

The Sicilian, who was a little-known constitutional court judge when he was elected head of state by parliament in 2015, has been appreciated by parties across the political spectrum.

Mattarella is expected to stay in the post now for a least a year, to get the country through to the 2023 general election. That will also leave Draghi free to forge ahead with Italy's post-pandemic recovery.

- 'Ideal for financial markets' -

Draghi, a former European Central Bank chief brought in to lead a national unity government almost a year ago, has been key to reviving debt-laden Italy's economy.

Italy is banking on almost 200 billion euros ($222 billion) in EU funds to cement the trend, but the money from Brussels is dependent on a tight timetable of reforms.

International investors have been watching the election closely, amid fears that timetable may go to pot.

Guido Cozzi, professor of macroeconomics at the University of St. Gallen, told AFP an extension of Mattarella's mandate was "ideal for the financial markets".

Draghi has also managed to keep squabbling between Italy's parties to a minimum.

But the Repubblica daily pointed out that -- with the general election campaign already underway -- the year ahead "risks being a replay of the shambles we've seen over the past few days".

It will now fall to Mattarella to keep the peace: "a task more difficult than we can imagine".

Y.Ishikawa--JT