As we pointed out yesterday, according to Deutsche Bank’s Jim Reed who was commenting on the results of last weekend’s Italian election, “it’s hard to get away from the fact that the overall result was another resounding vote for populism. Indeed over 50% of votes submitted was for a populist party, including of course the party with the largest percentage – the Five Star Movement – and a possible kingmaker in subsequent coalition talks – the Northern League.”
Furthermore, as Deutsche Bank’s populism index showed, the percentage of votes for populist parties on a population weighted basis was now around 32% – a level its largely held since the Trump inspired surge in 2016. In fact, you had to go all the way back to the WWII period to find the last time that populism had such support.
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