Italy populist govt sworn in following coalition deal
ROME: A populist anti-austerity government was sworn in yesterday in Italy after a last-ditch coalition deal was hammered out to end months of political deadlock, narrowly avoiding snap elections in the eurozone’s third largest economy.
Italian financial markets jumped on the announcement of the new government formed by the antiestablishment
Five Star
Movement and nationalist League.
After weeks of political drama that seemed certain to lead to new elections, President Sergio Mattarella named academic Giuseppe Conte as prime minister for the second time in less than a fortnight and approved the political novice’s revised cabinet.
Italian media reported that the line-up would face a vote of confidence on Monday or Tuesday in both houses of Parliament, which it is almost certain to win thanks to Five Star and the League’s combined majority in Parliament.
“We will work to realise the political objectives included in the government contract. We will work hard to improve the quality of life for all Italians,” Conte said after announcing his government team on Thursday.
The coalition plans to revive Italy’s sluggish economy by rejecting austerity and increasing spending, and wants to renegotiate European Union treaties and review the bloc’s economic governance.