An upset of sorts occurred in Italy with the recent election. The center-right coalition of People of Freedom combined with the North League and Movement for Autonomy to defeat the leftward coalition of the Democratic Party and the anti-corruption Italy of Values Party. This election allows Silvio Berlusconi to reclaim his spot as Prime Minister after losing a very close election in 2006.
The election is big for a variety of reasons.
First, the Italian Communist Party is gone. It was the most powerful Communist party outside the soviet bloc. While it always lost to the Christian Democrats it formed a sort of spoils system with them. The Communist almost always had some sway in the government. The 2008 election; however, denies the Communists any seats along with their Green allies. The party has been losing support to other smaller hard-left and left parties. Expect the Communist Party to slowly splinter into nothing.
Second, the Left lost again. The left has lost every post-World War II election sans 1996 and 2006. This is in part due to bad governance and part due to a weird voting system which favors smaller parties that can easily rock the boat of stability.
Finally, the new government of Berlusconi will return to a more pro-American alliance while still remaining a supportive leader of the European Union. Italy may join France in reformatting European policy towards America.