Word: saragat
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Dates: during 1970-1979
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Tired of the quarreling, Rumor resigned in early July. After nearly a month of futile negotiations to form a new government, President Giuseppi Saragat turned to Colombo, who is a highly regarded economist but nobody's idea of a forceful politician. To everyone's surprise, the scholarly bachelor formed a government that was virtually the same as the one at which Rumor had thrown up his hands. But by week's end Socialist leaders were hinting that Colombo might not last more than three or four months...
Exercise in Frustration. The latest crisis was precipitated by a split in Italy's fracture-prone Socialist Party. Until 1966 the Socialists functioned as two separate parties, Giuseppe Saragat's moderates and Pietro Nenni's leftists. They then closed ranks and served as one party in the center-left coalition. But last July they broke up again over the question of cooperating with the Communists in local governments. The moderates, who wanted to stay clear of the Communists, reconstituted themselves as the Social Democrats; Nenni's faction, figuring that the Communists had to be reckoned with...
...three weeks, Rumor struggled unsuccessfully to strike a compromise that would satisfy all parties. He failed. Aldo Moro and Amintore Fanfani, two former Premiers and the current contenders to succeed Saragat as President of Italy, also gave it a try. Finally, Saragat persuaded Rumor to try once more, and this time the Cabinetmaker succeeded. It was not that the other parties liked his proposals. It was just that they feared the alternative-a costly general election three years ahead of schedule...
...Cabinet that Rumor escorted to the Palazzo Quirinale last week to meet Saragat is unlikely to improve the situation. It is the least government that could have been provided rather than the most. Moreover, no one expects it to last much longer than the regional elections scheduled for late May. The odds are that at least one party in the coalition will conclude from these elections that the conditions are ripe for it to seize center stage. Then it will walk out of Italy's 28th postwar government, and begin agitating self-servingly for a 29th...
Weak Governments. To a considerable degree, the outflow of lire also reflects Italy's political troubles. Last week President Giuseppe Saragat was seeking someone to try to form the country's 28th Cabinet since World War II, following the resignation of Premier Mariano Rumor. Progressively weaker governments have failed to grapple with the country's Byzantine state bureaucracy or to create an attractive climate for investors by, for instance, modernizing Italy's corporate laws. Investors avoid the Italian stock exchange, because manipulation by insiders is common and because disclosure of corporate revenues and profits is minimal...