But for the moment (Tuesday 11th) the only official candidate is Emma Bonino, from the Radical Party. She currently holds the post of European Commissioner for consumer protection and solidarity.

That does not mean, though, that she is the "favorite". Au contraire. The major parties are weaving their webs of "expendable" candidates who can be voted for without an official nomination.

From the political debate currently in progress, it would appear that the most likely of these among the majority parties are Carlo Azeglio Ciampi and Rosa Russo Jervolino.

Ciampi is currently Treasury Minister, and it was he, together with Roman Prodi, who guided Italy into the EMU (the "Euro"). Jervolino is currently Home Minister, and she has strong support from the Popular Party. This party gave up the idea of backing Signor Scalfaro because of strong reaction from the opposition parties, and believes Jervolino could pick up enough votes to see her through.

During the voting, a two-thirds quorum is required, but this goes down to half of the votes plus 1 if no agreement is reached after the first three attempts.

Up to now, Presidents have remained in office for seven years. But if and when, as seems likely with approval for the electoral reform law, new procedures for the election of the President and a new presidential role come into force, the candidate elected on Thursday will be expected to resign.