Both economists and political analysts agree Mattarella’s re-election will bring some stability in Italy’s unstable political scene. But Draghi, the coalition government, and Mattarella (who himself had expressed the desire to become a president but was not able to receive enough votes) still face an uphill struggle with a host of reforms that are needed to unlock European Recovery Funds.

“The result of the presidential election should, in principle, offer maximum continuity relative to the recent past. At least for the near term.” “The well-established relationship between PM Draghi and President Mattarella should ensure a frictionless resumption government activity with a confirm focus on fighting the Covid-19 pandemic, and increasingly on the implementations and reforms foreseen in the recovery plan,” Paolo Pizzoli (ING senior economist for Italy, Greece) said Monday.

Pizzoli maintained that ING’s house views remained unchanged and said that there was no danger of a government crises. He also stated that Draghi’s government should survive to the next general election, due for early 2023.

He said that there are still uncertainties in the medium-term political landscape, with frictions at both the right and centre of the political spectrum. The right is dominated primarily by Matteo Salvini’s Lega party but includes Silvio Berlusconi’s Forza Italia as well as the more right-wing Fratelli d’Italia.

We believe that the medium-term Italian political situation will be more uncertain than it is now. Both the League and 5SM will be affected by the political ripples caused by the Presidential Election Scandal. They are currently members of the National Unity Alliance. The centre-right emerges extremely divided from the vote, and Salvini’s leadership of the coalition could be subject to scrutiny,” Pizzoli noted.

He believed the Lega party might undergo increasing pressures, “torn between a centrist pull, with Forza Italia and its allies already re-affirming their pro-European and Atlantic stances, and the fear of losing voters to [Giorgia]”Meloni’s right-wing Fratelli di Italia is firm in its opposition to the government and Mattarella’s confirmation. Pizzoli stated that the centr-left side of the political spectrum said, “The experiment of a structured PD-5SM coalition will not be hardly strengthened by the presidential elections week.”

“In one year time, when next parliamentary elections are held, the party roster could have substantially changed.” He noted that opinion polls may not be able to provide any guidance in such uncertain times.

Although political analysts are confident that the current government for national unity (which is comprised technocrats, politicians from all parties of the political spectrum, with the notable exception of Fratelli-d’Italia), will survive until next year, Wolfango piccoli, copresident of Teneo Intelligence said that while the vote revealed the fragility in Italian politics and highlighted deep divisions within its governing coalition, Wolfango Piccoli stated that it was not possible to continue the government.

In a Saturday night note, he stated that “while it was at first glance this [vote]Although it may seem that things are stable, Draghi’s executive is now facing an enormous task. This is despite the fact that there is not much time before the next general elections.

Piccoli said that Piccoli was wrong to believe that all political systems, including the six parts of the ruling coalition have failed the presidential election test.

The tangible danger is that infighting in the ruling majority will grow in the coming months as the inefficient and chaotic effort to replace Mattarella has left deep scars among the parties’ leaders. With only one year to rebuild the coalition after the presidential scandal, it has become clear that there is no trust.

He had hoped for a change in political affiliations between parties as well as within political alliances.

While the rightist bloc (League Forza Italia and FdI are now in melting down, it’s not clear how long the entente among the Democratic Party (PD), and the Five Star Movement(M5S) will be sustained. With this unstable background Draghi must now pick up the pieces to try and recompose deep divisions that have emerged in the ruling coalition during the week. Draghi’s standing was also affected. He noted that Draghi, who was clumsily, indicated he was interested to run for the presidency and faced a veto from three parties supporting his executive.”