Published: Sat, June 02, 2018
Markets | By Terence Owen

European capitals watch nervously as Italy's populist parties call mass street protests

European capitals watch nervously as Italy's populist parties call mass street protests

Prime Minister-designate Giuseppe Conte presented his list of ministers to President Sergio Mattarella for the second time in a week and the new government will be sworn in on Friday.

Cottarelli has said that should his technocrat government win parliamentary approval, it would stay in place until elections at the "start of 2019".

Last night, he said: 'We will work with determination to improve the quality of life of all Italians'.

4 March: Inconclusive elections left Italy, the EU's fourth-biggest economy, without a government. "It's a lie invented by Mattarella's advisors", Di Maio said in a live video on Facebook. It is branded "the government of change".

"It is important that we make ourselves seen and heard".

George Soros, the pro-EU billionaire, yesterday said the European Union had an "existential crisis" and needed to "reinvent itself" to make it more attractive for countries to stay in.

"I would imagine that Italy would resist or at least try to do some damage containment when it comes to the question of resources for agriculture and cohesion". With good manners, without causing confusion, but I'm fed up of governments with cap in hand. "We will help them as we always did".

The two leaders canceled other engagements Thursday to meet at the parliament in Rome and hammer out a Cabinet.

They were later joined by their potential premier pick, Florence law professor Conte.

But his earlier attempt at forming a government broke down on Sunday after Mattarella refused to endorse Paolo Savona, a vocal critic of the European Union (EU), for the post of minister of economy.

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Tria, a professor at Rome's Tor Vergata University, has also been critical of the EU', but unlike Savona, he has not advocated a "plan B" to prepare Italy's possible exit from the currency bloc. We will have a technocratic government.

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Conte's deputy premiers are his two more seasoned political masters: Di Maio and Matteo Salvini, head of the League. She also said she could rule out there being any FdI ministers "without our knowledge".

Milan's stock index has opened higher after Italy's populists put an end to three months of political gridlock and formed a government, staving off the threat of new elections that could have become a referendum on the euro.

Despite their agreement on key points in a broader populist agenda, the two parties spent weeks arguing over who should be prime minister.

More leftwing policies, advanced by the M5S, include a universal basic income for job seekers.

The leaders of the right-wing League and the 5-Star Movement patched up their alliance after agreeing to substitute a eurosceptic they had initially proposed as economy minister, a nomination that had been rejected by the head of state.

Since then, both Di Maio and Salvini have repeatedly stressed they do not want to leave the euro.

After the collapse of the M5S-League government bid, the president nominated former International Monetary Fund director Cottarelli to form a technocratic government.

Cottarelli said it had been a "great honour to work for the country, if only for a short time" and that a political government was "a better solution". Confidence votes are scheduled on the new government in parliament next week.

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