Italy is heading for an early March election with populists on Left and Right leading the polls with two thirds of voters behind them. They’ve abandoned plans to leave the euro, plotting instead ‘to subvert monetary union from the inside with parallel currencies and deficit spending in open violation of the Maastricht Treaty. All view the euro system as a racket run largely in the interests of Germany.’ (Telegraph). Italian output is still low compared to pre-2008 levels and not much improved from the mid 1990s when the lira was pegged to the deutschemark. The result is likely to be a hung parliament.
The EU will be watching with trepidation through February and more so come late March onwards as tr Saturn opposes the composite Pluto, then Uranus; with the Eclipse conjunct the composite Mars Venus, which tr Uranus then aspects into 2019 as well as opposing the composite Saturn. So there are likely to be ructions.
Where the Bank of Italy, 10 August 1893, looks in better fettle is by 2022 onwards, but there’ll be a fair few mountains to climb before they get there.