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Opinion
Lionel Laurent

Italy's Right-Wingers Spook Markets Less Than UK

As “Italexit” becomes less likely, Brexit gets more real.

Giorgia Meloni speaks at the Brothers of Italy party's general election night event in Rome on Sept. 26, 2022. 

Giorgia Meloni speaks at the Brothers of Italy party's general election night event in Rome on Sept. 26, 2022. 

Photographer: Alessia Pierdomenico/Bloomberg

The dust is settling on the election victory of Giorgia Meloni, poised to lead Italy’s most right-wing government since Mussolini, as part of a coalition that opponents say is a gift to Vladimir Putin.

Yet it’s the UK’s “Trussonomics” that has triggered the bigger selloff in financial markets, which — as  bizarre as it may seem — is a revealing indicator of where today’s economic radicals sit.