Renzi doesn't party, but it is clear that the result of the elections filled him with pride and happiness. The Italians, as often happens in crucial moments, do not allow themselves to be misled by the television chatter or by the abstruse lucubrations of the so-called experts on political matters, and get to the point. Faced with the prospect of sending the entire ruling class home through the carnival of street trials, and of detaching ourselves from Europe, risking becoming more and more like the southern Mediterranean countries, have chosen the path of change managed by a person who has shown that he understands politics but also that he is determined to use all the ruses of power to arrive, without guillotines or plebeian rites, at a positive result for everyone. In short, Renzi convinced the voters to grant him the political strength and time necessary to put the Italian institutional and bureaucratic machine back in place.
Not only that, but many citizens seem to have well understood the role that the improvement of expectations, i.e. confidence in our potential, can play in making our reform process easier and faster. Yesterday, for example, the president of the Eurogroup, Dijesselbleom, clearly stated that it is necessary to find a way of linking the launch of the reforms with greater spending margins for the countries which precisely give guarantees on the progress of the reform process. In short, on Sunday the Italians finally sent a clear message to our partners: we want to resume our role on the international markets and at the tables where the common strategy is decided. It was time!
Furthermore, the government's victory, which means political stability in Italy, will be decisive for overcoming the last German resistance and allowing Mario Draghi to launch a series of "unconventional" measures on 5 June to try to contain the strength of the Euro exchange rate and allow the banks to increase their capacity to grant credit to the economy. In fact, beyond the electoral campaign chatter, it is now clear to the majority of citizens that until the banks are restored, there will be no recovery of the economy.
Now the government's task is clear. It will not be able to waste time in carrying out the reforms announced many times. As Renzi himself underlined at the press conference, it is necessary to complete the reform of the labor market, and that of the tax authorities. In both cases it is to be hoped that Renzi will be able to capitalize on Fornero's mistakes which, compromise after compromise, have launched a reform of the labor market that has made things worse. So it is necessary to make a reform, but it must be clear and easily applicable, otherwise there is a risk of causing further damage. Similar reasoning for the implementation of the fiscal delegation. The PA reform should be launched in mid-June and this will certainly be a crucial step. Then there is the need to make visible steps forward in the reform of the Senate and in the revision of the powers of the Regions. Finally there is Justice which is one of the main obstacles to the arrival of foreign investments. It is a question of reforming both the functioning of the machine, one of the slowest in the world, and many rules that allow for totally different interpretations which generate total legal uncertainty in citizens and businesses. There is a lot of meat on the fire. And it would also be necessary to add more decisive action for the sale of public companies, especially those controlled by local authorities which are a source of waste and terrain for patronage raids.
Then there is Europe. Italy is the only country, with Germany, that has defeated Euroscepticism. Much needs to be done in Brussels, even if it would be wise to focus on realistic objectives and not on long and difficult revisions of the treaties with the risk of opening paralyzing conflicts between the various countries. As mentioned, Draghi should take care of the Euro, so a little more flexibility in fiscal policy would be enough.
The policy framework should now help the Government. The Italians have given Renzi a full mandate to operate. In his party, the space for opponents has shrunk a lot. Berlusconi should not disengage from the reform table. And then, perhaps, there could be surprises between the Grillini and Sel deputies.
Ultimately, one can well say to Renzi: the Italians gave you the bike you wanted, now ride it!
