2.7 trillion euros.
That's how high Italy's debt is.
The debt ratio corresponds to 150% of the country's economic output.
Until Wednesday evening, the government in Rome was pursuing a reform plan that would secure 200 billion euros from the EU aid fund alone.
But since Wednesday evening it has been clear that Prime Minister Mario Draghi's "national unity" government, which has been working since the beginning of January 2021, is at an end.
After the left-wing populists of the Five Star Movement, who unleashed the latest government crisis a week earlier, the populists of Matteo Salvini's right-wing Lega and Silvio Berlusconi's centre-right party also withdrew their confidence.
Draghi submitted his resignation – and on Thursday President Sergio Mattarella dissolved both chambers of the Italian parliament.
All three parties were involved in the government and could have benefited from the reform successes and Italy's increased standing in the European and international community.
So why are they dumping the head of government and throwing their own country into political paralysis until the new elections at the end of September?
more on the subject
Power struggle in Italy: "We must not become hostages to populists and nationalists" by Frank Hornig
Reckoning of an ex-five-star politician: »They don't give a damn about issues« An interview by Francesco Collini, Florence
breach of coalition.
Resignation.
Resignation rejected: A crazy day in Italian politicsBy Frank Hornig, Rome
"Two prime ministers, who are actually apolitical, were selected and placed first," says Frank Hornig, SPIEGEL correspondent in Rome, "one Conte and then Draghi.
People who have never won an election.
Men from the institutions, one from the university, the other from the European Central Bank.
Those were the friendly, serious faces in politics.
Basically, that was just the facade.
And underneath, the populists continued to do their business."
A deal with votes as the only currency, and a deal that could fail the two major populist parties.
The Five Star Movement has already lost almost half of its popularity in recent polls.
Party leader Giuseppe Conte, celebrated two years ago for his clear course through the pandemic, is now one of the most unpopular politicians in Italy.
Currently the most popular party: the post-fascist Fratelli d'Italia (Brothers of Italy) under Giorgia Meloni.
Italian democracy has survived many crises, but can it handle a post-fascist government?
What do voters want after almost four years of populism?
And why do the Italians actually have such a bad image of their own country, even though some things are actually going better than in Germany?
Frank Hornig and Francesco Collini from the SPIEGEL foreign department discuss these questions with host Olaf Heuser in this episode of "Eight Billions".
Listen to the current episode here:
