Meloni’s centre-right coalition, in power since October 2022, remains intact with no immediate no-confidence threats or resignations, supported by its parliamentary majority and her party’s consistent polling lead despite modest overall coalition erosion. Key recent pressures include internal strains from Matteo Salvini’s declining Lega, the February 2026 emergence of Roberto Vannacci’s competing hard-right National Future party, and centre-left efforts to consolidate ahead of the next general election due by December 2027. Meloni’s July 2026 passage of electoral reform through the lower house—shifting toward proportional representation with a majority bonus for coalitions above 42 percent—aims to lock in advantages before a potential spring 2027 vote, with Senate consideration scheduled after the summer recess. Speculation of an earlier snap election has surfaced amid economic critiques and coalition frictions, but constitutional rules and internal incentives continue to favor completing the term absent a sudden crisis. Trader assessments reflect the government’s demonstrated longevity relative to Italy’s historical instability alongside these persistent coalition and electoral uncertainties.