Meloni Marks Record Government Stability as Italy Gains EU and Market Confidence
Italy's Political Stability and Its Impact on EU Relations and Financial Markets
By Angelo Amante
Record-Breaking Government Longevity
ROME, Sept 4 (Reuters) - A record period of government stability has strengthened Italy, which is no longer viewed within the European Union as "a case to monitor", Prime Minister Giorgia Meloni said on Friday as her administration became the longest-serving of the postwar era.
In a country notorious for political volatility, Meloni's right-wing coalition has surpassed Silvio Berlusconi's 2005 record, passing more than 1,400 days in office since taking power in October 2022.
Key Achievements and Political Stability
Speaking at an event in the southern city of Bari to mark the milestone, Meloni listed what she described as her government's key achievements. Delivering lasting political stability in a country that had had 68 governments in 80 years was itself a major accomplishment, she said.
"Stability is the first major reform we have delivered to this nation. Thanks to that stability, Italy has stopped being a country under watch in Europe," she told supporters.
Financial Discipline and Market Confidence
Comparative Political Stability in Europe
FINANCIAL DISCIPLINE
During a tumultuous global period of conflict and economic shockwaves, Italy has appeared steadier than some nearby countries, including France, which has had five prime ministers since autumn 2022, and Britain, which has had four.
Impact on Public Finances and Borrowing Costs
Meloni said political stability had reassured financial markets about Italy's handling of its public finances and high debt pile, helping soften borrowing costs on government bonds.
"Having the public accounts in order means fewer constraints. Those who keep their finances in order get to decide where to spend their money," she said.
Analyst and Critic Perspectives
Analysts broadly agree that Meloni's strongest achievement has been restoring confidence in Italy's finances, but critics say little has been done to overhaul the inefficient public administration, healthcare and education systems.
The government's main institutional reforms, including plans to strengthen the prime minister's powers, have stalled, while voters this year rejected a government-backed referendum on judicial reform.
Opposition Response and Upcoming Elections
Criticism from the Centre-Left
The centre-left opposition on Friday accused the government of failing to address Italy's longstanding problems.
"Four years of inactivity and inertia are not a badge of honour but an aggravating factor," said Giuseppe Conte, a former prime minister and leader of the 5-Star Movement, pointing to the country's persistently sluggish economic growth.
A demonstration was staged in Bari against the rally organised by Meloni's Brothers of Italy party.
Election Prospects and Political Landscape
With elections due next year, Meloni is expected to lead her coalition into the campaign.
In opinion polls, the centre-left bloc holds a narrow lead over Meloni's alliance, whose support has been eroded by Futuro Nazionale, a far-right movement that has tapped into concerns over immigration, security and cultural change.
(Reporting by Angelo Amante; Additional reporting by Remo Casilli; Editing by Rosalba O'Brien)
