Wednesday, 15 August, 2018

Populist fury after Italian president scuppers new government

European Union - Italy's Conte fights to form team as ally threatens new vote Italy's efforts to form government break down as eurosceptic Savona rejected
Glenn Montgomery | 28 May, 2018, 14:15

Italy's premier-designate has been summoned to the presidential palace to report Sunday on whether he has assembled a Cabinet for a euroskeptic government that meets the president's approval.

"Keep calm and solidarity with President Mattarella", Paolo Gentiloni, who remains Italy's prime minister, posted on Twitter. "If you want to discuss it, it should have been done openly and with a serious debate", which he noted hadn't been part of the electoral campaign.

Carlo Cottarelli would be a calming choice for the financial markets.

Giuseppe Conte, 53, a professional law professor, was nominated as prime minister by the Five Star Movement and the Lega parties that had scored the majority of votes at the March 4 parliamentary polls.

Since the formation of the populist ruling coalition, Italian stocks have lost nearly 9%.

The yield on the Italian 10-year government bond fell back to below 2.35 per cent in early trading as investors greeted the collapse of the potential coalition, before rising to around 2.44 per cent at the time of writing, according to Tradeweb.

The parliamentary election, held on March 4, failed to produce a clear victor but saw support for traditional parties collapse.

"I have given up my mandate to form the government of change, " said Conte to reporters after leaving failed talks with President Sergio Mattarella.

"If there's not the OK of Berlin, Paris or Brussels, in Italy a government can not be formed". The situation is fluid with President Mattarella maintaining that he will wait before making any decision, but new elections are now a distinct possibility.

While he had approved all their other ministerial picks, Mattarella said he had the right to block nominations that could harm the country.

Markets gave up earlier gains as the Five Star Movement and the League raged against Mattarella, suggesting months of acrimonious political campaigning.

President Sergio Mattarella turned to the former International Monetary Fund official to run a technocratic government until an early election can be held.

Savona has had high-level experience at the Bank of Italy, in government as industry minister in 1993-94, and with employers' lobby Confindustria.

The president has very limited powers but can appoint heads of government and their chosen ministers. However, with the country looking ever more unstable and probably heading for fresh elections, the trend may be short-lived-while the Italian stock market rose by 1.9% at one point, it went into the red a couple hours later. Mainstream center-left and center-right parties were seen losing further ground in the face of voter anger over the sluggish economy.

The president has chosen European Union rules over the votes of Italians and that's "an issue for democracy", Matteo Salvini, leader of the anti-immigrant League, said in a message on Facebook.

"We will ask parliament to charge Mattarella with high-treason because he has acted under foreign pressure", Brothers of Italy chief Giorgia Meloni said on La7 television channel.

Luigi Di Maio of the 5-Star Movement attends a news conference in Rome.

A livid Di Maio later called for the president to be impeached.

Recommended

Centre working on long-term solution to fuel prices: Pradhan Centre working on long-term solution to fuel prices: Pradhan In the face of surging crude prices since December 2016, the government has slashed excise duty only once by Rs 2 in October 2017. As per the country's pricing mechanism, the domestic petrol prices are dependent on the global fuel price on a 15-day average.

Indians among 11 killed as cyclone Mekunu strikes Oman, Yemen Indians among 11 killed as cyclone Mekunu strikes Oman, Yemen A holiday destination, Salalah's empty beaches were strewn with debris and trash while churning waves inundated unprotected areas. They laughed and shared plates by flashlight in a darkened ballroom, the cyclone's wind a boring roar behind their clatter.

Israeli army kills two militants in Gaza border shelling: Medics Israeli army kills two militants in Gaza border shelling: Medics The Israeli military aggression killed almost 2,200 Palestinians and injured over 11,100 others. Mass protests and clashes began on March 30 along the fence separating Gaza and Israel.

Golden State Warriors Rout Houston Rockets for Force Game 7 Golden State Warriors Rout Houston Rockets for Force Game 7 Paul missed the Rockets' Game 6 loss after suffering a hamstring injury late in their Game 5 win over the Warriors. You better believe Twitter had a lot to say about the night's action.

Harvey Weinstein, Hollywood producer, arrested on rape, sex abuse charges Harvey Weinstein, Hollywood producer, arrested on rape, sex abuse charges After having his mugshots and fingerprints taken, he was escorted out in handcuffs and driven to court in the back of a smart SUV. He sought treatment for sex addiction at a facility in Scottsdale, Arizona, the New York Times reported.

Irish overwhelmingly vote to legalise abortion, exit poll suggests Irish overwhelmingly vote to legalise abortion, exit poll suggests It is proposed that instead of the article, the government has proposed would act legislation and allow abortion up to 12 weeks. With a turnout of 53 per cent which amounted to 1.2 million people, almost 67 per cent voted Yes and over 33 per cent voted No.

Lava from Hawaii volcano enters ocean from 3 flows Lava from Hawaii volcano enters ocean from 3 flows Puna Geothermal, owned by Nevada's Ormat Technologies, was shut down shortly after Kilauea began spewing lava on May 3. The plant produces electricity by bringing steam up from underground wells and funneling it to a turbine generator.

Justice to hold bipartisan briefing Thursday Justice to hold bipartisan briefing Thursday The mere existence of a government informant in an investigation doesn't mean a probe is tainted. Justice Department , which experts bill as a bad sign for the future of U.S. democracy.

Judge Rules President Can't Block Critics On Twitter Judge Rules President Can't Block Critics On Twitter The judge found that blocking people from a designated "public forum" violates the First Amendment of the US Constitution. Trump has more than 50 million followers on his Twitter page. "I think this decision is correct", Giampietro said.

Trump's White House tackles America's most divisive question: Laurel or Yanny? Trump's White House tackles America's most divisive question: Laurel or Yanny? In addition, perception can be influenced by multiple factors such as age, sex or native language of the listener, she explained. Much like anything on the internet, disagreements over what is being said in the clip broke out nearly immediately.

'Super Eagles not afraid of opponents in Russia' 'Super Eagles not afraid of opponents in Russia' Ahead of the 2018 FIFA World Cup , Super Eagles will meet President Muhammadu Buhari at the Aso Rock Villa in Abuja on May 29. On the inclusion of in-form Kano Pillars striker Junior Lokosa, Siasia said: "We've seen Ajayi play.

Assad: stability is growing in Syria Assad: stability is growing in Syria The two leaders discussed the need to strengthen the work on rendering of humanitarian aid to Syrians and economistsview Syria. He also visited Putin in Moscow in October 2015, soon after Russian Federation launched its military operation in Syria.

Stormy lawyer: Two more women may have deals with Trump Stormy lawyer: Two more women may have deals with Trump Late Wednesday, the New Yorker published a story about an unnamed law enforcement official it said had leaked the report . Attorneys for Cohen said this week they had no reason to believe Avenatti had the information lawfully. "Mr.

Allardyce sets to leave Everton in next 24 hours Allardyce sets to leave Everton in next 24 hours Confident? I can't quite say confident after all the rumours I'm reading in the paper", Allardyce said after a 3-1 defeat. Simply press the thumbs up if you think the player should stay, and the thumbs if you think they should pack their bags.

WWE's Ronda Rousey Says She Might Be Pregnant "Soon" WWE's Ronda Rousey Says She Might Be Pregnant Now that she's been married to Travis Browne for a year, the folks at TMZ figured it was time for an update. Rousey made the move to WWE in 2018 after a years-long career as a UFC fighter.