Politics

Why Italy to Leave EU Odds are High? Is Italexit Really Happening?

After a lengthy process, at last it happened. Italy’s two populist parties, the Five-Star Movement and the Lega have managed to form a government. Does that mean Italy to leave EU odds are inevitable?

Italy to leave EU
The odds are high for Italy leaving the EU

On March 4, Election Day, Five Star attracted 32 percent of the vote, The League got 17 percent, and a third, even more Euroskeptic party – the right-wing Brothers of Italy – polled 4 percent. That means more than half of Italian voters turned against Europe. Does it follow that the EU is now at risk and Italy to leave EU odds are definite? Well, according to online sporstbook sites in Italy the odds are high, but according to our understanding Italy will not drop the euro or leave the union anytime soon. Here is why.

Blame it on Brussels: Just A Slogan?

Matteo Salvini
Matteo Salvini

Italy-EU fight hitting the headlines largely coincides with the hard-Right League party leader Matteo Salvini becoming the deputy prime minister in the new coalition government. He has previously described the EU as the Titanic about to sink and threatened to withdraw Italy’s funds from the bloc and even trigger an Italexit if his demands for Italy aren’t met.

Thus, he is not the only driving force of Italy’s new government. In fact, Luigi Di Maio, the leader of populist and eurosceptic Five-Star Movement, who also holds now the economic development portfolio in the government, ruled out having a referendum in Italy on membership of the EU. At the moment, it seems Five-Star Movement like to stay in the union, and that means the new government will not have a clear-cut anti-European Union policy.

First Deadlock Has Been Solved

According to online sportsbook news in Italy, one of the main factors for the crisis of the past three months has been removed. Just recently, the route to power by populist parties was nearly thwarted by a constitutional dispute. Italy’s president, Sergio Mattarella, refused to accept the two parties’ original nomination of Paolo Savona as economy minister, due to his outlined plans in 2015 to exit the eurozone without a popular vote or referendum. Now as Savona has been moved to a different ministry, and Giovanni Tria has been appointed as an alternative economy minister, the political stalemate is no longer there. Does that guarantee no anti-European path by the new government?

Italy to Leave EU Odds

Italexit odds at Vbet Sportsbook

Italexit or Italy to leave EU odds are more connected to many problems facing the country since a long time. On the migration issue the EU has disappointed Italy, as it made a costly agreement with Turkey to shut down the eastern route through Greece, but migrants kept coming from Africa taking the route to Italy. The economic situation as well shows no sign of improving which causes further polarization in the country.

As long as the economic and political crisis in Italy continues, Italy to leave EU odds will stay high according to Vbet Sportsbook. Italy is at the top list of potential countries to leave the EU in 2018, with (3.00) odds. It is hard to predict how Italy-EU relations will turn out in the upcoming months. But bookmakers expect Italy’s government to fall if the EU chooses to punish Italian electorate. That will make same populist parties to be re-elected with an increased majority. Other option for EU is to soften its position and reach a compromise. How do you think the EU will respond to the turmoil in Italy?

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