User:Lihaas/Italian general election, 2012

A snap general election will be held in Italy in 2012 following the fall of the incumbent coalition government amidst the European sovereign debt crisis.

Background
Akin to the other PIIGS during the European sovereign debt crisis, Italy's also fell over similar unpopular austerity measures after the incumbent government could not pass the austerity measurers into law without calling for a new election or the resignation of the prime minister. Silvio Berlusconi announced that he would submit his resignation as prime minister for President Giorgio Napolitano after the approval of the austerity bill because his coalition government could not obtain a majority during the vote on the bill after it gained only 308 votes out of 316 needed (However, the bill later passed as opposition MPs abstained from the vote). Berlusconi reacted by saying: "The markets don't believe that Italy is capable, or has the intention of approving these reforms. Things like who leads or who doesn't lead the government [were less important than doing] what is best for the country." He then met Napolitano and talk about the urgency to pass a new budget law in parliament. Napolitano then said that: "Once this engagement is fulfilled, the prime minister will hand in his mandate to the head of state who will proceed with appropriate consultations, paying close attention to the positions and proposals of all political forces." In reaction to Berlusconi's offer European stock market indices rose. However, Irish sovereign bond yields also arose on fears of contagion. Though later global stock market indices fell Financial markets later fell on speculation of stability. Though Senate President Renato Schifani said that "the moment we're going through, with international speculation attacking our country, requires swift choices and political cohesion," Napolitano said that a new government would be formed within the space of a few days. Fears are totally unfounded that Italy may experience a long period of inactivity."

Al Jazeera quoted analysts as saying there were three likely outcomes: an expansion of the incumbent coalition, a new national unity government or early elections. The first possible scenario would entail a government led by Berlusconi's close aides like Angelino Alfano or Gianni Letta, the cabinet secretary, as his party still has the largest presence in parliament; a government led by a high-profile technocrat such as Mario Monti; or the calling of a new election by Napolitano after dissolving. Berlusconi said that he preferred the option of a new election.

Electoral system
The coalition with a plurality of votes nationwide then obtains an absolute majority of seats in the Chamber of Deputies. This is not in Senate's case, as absolute majorities of seats are awarded regionally.

Candidates
Incumbent Prime Minister Silvio Berlusconi said that he would not run during the election.