Opinion Stars and stripes
The Five Star Movement is now the single-largest party in Italy. The rise of populism is a warning to older political parties.
In calendar year 2018, the rupee has depreciated by almost 13 per cent, which is seen by the government as too fast-paced a slide. 
Italy, unlike the US or UK, does not have a bi-polar polity.
In many ways, the Five Star Movement (M5S), which emerged as the single-largest party in the Italian elections, is typical of the populism that has threatened the European Union and the idea of global capitalism in Europe. It stands against traditional political parties and structures, vilifies politicians as a class, is insular and against the integration of economies.
Its success in Europe’s third-largest economy is a warning to traditional political forces. Prime Minister Matteo Renzi’s Democratic Party and Silvio Berlusconi’s centrist Forza Italia could not even gather half the vote share between them, barely managing the tally of the M5S.
The “movement” is sustained by Rousseau, a web-based platform that has been accused of being pro-Vladimir Putin and a vehicle for fake news. The role of the media in influencing politics is clear: Berlusconi, who owns many TV channels, used to rule the roost in Italy. Now, it would seem, it is the internet-savvy M5S’s turn.
But the success of the M5S cannot be attributed merely to a change in media technologies. The party swept parts of the country where corruption is high and the welfare state is failing. Italy also took in a large number of immigrants — about 1,80,000 — in 2017.
Italy, unlike the US or UK, does not have a bi-polar polity. The hung assembly will likely lead to a coalition government, in which the populist tendencies of the M5S may be tempered. Unlike the Syriza in Greece or Podemos in Spain, the “movement” is not rooted in any ideology and has already changed its stance on the EU multiple times. The larger questions, however, remain.
Globalisation has left large sections behind. Social Democrats, rather than addressing the retreat of the welfare state, are being seen as part of the forces that allowed it. The resentment caused by these developments is being channelised by the raw rage of new formations. Unless traditional political forces re-invent themselves to address these challenges, immigrants and the EU will continue to be easy scapegoats.
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