Aspects of European Politics in Italy - Essay Example

This crisis proved difficult for European countries to repay their government debt without the help of the ECB or IMF. Undercapitalization too, of banks in Europe, contributed to it as they faced liquidity and debt problems. This also slowed down the economic growth in this zone as it was unevenly distributed within member states. Meanwhile, the governments of states most severely affected by this crisis have tried to coordinate their actions. A committee by the name ‘The Troika’ has constituting member organizations are; European Commission, Central Bank, and International Monetary Fund take care of this issue.

Fiscal policy stimulates the slowing of the economy through tax cuts while spending rises. An increase in spending does take place quickly while the tax cuts may take a long time to cause an impact on gross spending and output.

In monetary policy, through Federal Reserve Act, The Federal Reserve System, and Federal Market Committee should be at the forefront in promoting some excellent employment goals, long-term and mode rest interest rates with stable prices. Through this principle, Federal Reserve can regulate the value of money and credit plus their price-interest rates thereby influencing employment, output, and the general level of prices.

The legislature is composed of the lower house, which is the chamber of deputies, and the upper house comprising the senate. Despite the houses being legally equal, the Chamber of Deputies has influence that is more political and most of Italy’s vocal politicians do fall in this chamber. All house members are elected by popular vote for a term of 5 years in office. The Senate has 315 seats while the Chamber of Deputies has 630 seats and another 10 seats reserved for ‘life members’ including past presidents and honorary nominees’. A voter must be of 25 years of age to cast his or her vote for Senate while in other elections, 18 years is the minimum age to vote. To vie for a Senatorial seat, one has to be of 40 years and above, and for the Chamber of Deputies, the contestant has to be 25 years and above.

This is composed of the President, the Council of Ministers, and the Civil Service. The president is elected on a 7-year term by a joint session of parliament from 58 regional representatives. He or she should be at least 50 years of age. The Prime Minister, who is as well a presidential appointee from the party with the largest representation in the House of Chamber of Deputies, is the most influential government figure since he is tasked with many duties although the president heads the government.
Changing of President in Italy.

The president in Italy is usually elected by the parliament and the regional representatives. There is a term of 7 years renewable on an optional basis.