PD and M5S: the Italian alliance of convenience; the power of the status quo in a challenging economic context

The attempt to provoke early elections in August 2019 by the leader of the League, Matteo Salvini, unexpectedly led to a pragmatic coalition of the Five-Star Movement (M5S) and the Democratic Party (PD) and the formation of a second government under Giuseppe Conte. This government operates in a fragile political equilibrium where a fear of early elections, which could pave the way for Matteo Salvini to power, is the main stabilising factor. The pragmatic political calculation of the PD and M5S sup­ported by Matteo Renzi’s new party “Italia Viva” may be enough to maintain the coali­tion for a certain time, but it will not generate any major growth incentives for Italy, which are crucial in maintaining the sustainability of public debt. (author's abstract