Silvio Berlusconi has never been shy of showing off the many records he holds. Yet, the fact that his government is the first to fail to win approval of Italy’s consolidated public accounts is one that even the master showman will not be able to boast about. After this week’s setback, he today faces a vote of confidence. This is the second, after a similar showdown last December.

Ever since last winter’s vote, il Cavaliere has been riding his luck, in a classic exercise of parliamentary brinkmanship that has delighted his supporters. However, this very achievement has led Italy into a political stalemate, preventing the passage of structural reforms the country desperately needs. This has contributed to the crisis of confidence that is undermining Italy’s fiscal position as well as the survival of the eurozone.

The impasse must now come to an end. Italian parliamentarians – particularly those whose absence from the lower chamber contributed to the recent incident over the budget – should resolve this farce, drawing down the curtain on a plutocrat-cum-politician whose record has fallen well short of his own exaggerated assessment and the expectations of long since dis-illusioned voters.