Courtesy of Mish.
Voting booths are open in Italy though 3:00PM Monday (9:00AM EST). Exit polls will trickle in soon after but early exit polls could be misleading. If the result is close will may not know for over a day.
The Wall Street Journal offers this Italian Election Guide.
Italian voters can cast ballots Sunday and until 0900 ET Monday, after which exit polls will provide quick but approximate insight into the probable result of the election.
The center-left coalition led by Democratic Left leader Pier Luigi Bersani was five percentage points ahead of Silvio Berlusconi’s center-right coalition according to the average of polls before a blackout on such surveys kicked in two weeks ago, giving it clear front-runner status.
Exit polls in 2006 and 2008 underestimated votes cast for Mr. Berlusconi, but unless Italy’s 51 million eligible voters shifted dramatically in recent days, Mr. Bersani should – even with fewer than a third of the ballots cast – win a plurality, meaning his coalition will be awarded a majority of seats in the 630-seat lower legislative chamber.
Shift Has Taken Place
The Journal says “unless Italy’s 51 million eligible voters shifted dramatically in recent days, Mr. Bersani should win a plurality.“
I suggest such a shift has taken place. The open question regards turnout and apathy, not a shift, per se.
Loser’s Penalty
In the Chamber (the lower House of parliament) the party with the largest plurality in the national vote gets a majority (54%) of the seats. In the Senate (the upper chamber of parliament) each of 17 Italy’s regions operate independently and the winner of each region gets a majority (55%) of the region’s seats.
There are 315 seats in the Senate. Lombardy, Italy’s largest region gets 49 seats and the winner will take 27 seats (55%). The other parties will split the remaining 22. Second place may only get 10.
The Journal sums it up this way.
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