Italy Heading to New Elections With Europe as Campaign Faultline

New premier-designate Carlo Cottarelli

New premier-designate Carlo Cottarelli

A presidential palace official told reporters Sunday night that Giuseppe Conte "has given back the mandate" to try to form a government that President Sergio Mattarella gave him four days earlier. In the meantime, Mattarella has reportedly asked a former International Monetary Fund (IMF) official, Carlo Cottarelli, to discuss the formation of an interim, technocratic government.

Giuseppe Conte.... who returned the mandate given to him on May 23 to form the government.

The move enraged the anti-establishment Five Star Movement and far-right League, and prompted their prime minister-elect to step aside.

In a statement, Mogherini said that "I have full trust, as I believe all Italians have in the Italian institutions, starting with the Italian president". "This means that Italy will be left with no effective government backed by a clear political majority in Parliament until the end of the year", said Piccoli, co-president of Teneo Intelligence.

Efforts to form a populist government could be jeopardised by a tussle over Savona between the president and Matteo Salvini of the anti-immigrant League, which is Five Star's junior partner, and lead to early elections possibly in the fall.

Last week Savona's known criticism of the euro and German economic policy further spooked financial markets that were already concerned about the future government's willingness to reign in the country's massive debt, worth 1.3 times its annual output.

Italian President Sergio Mattarella said he refused to approve populist leaders' choice of an economy minister who has expressed anti-euro views because the appointment would have "alarmed markets and investors, Italians and foreigners".

Italy's outgoing economy minister, Pier Carlo Padoan, said in a TV interview Sunday that the real problem isn't Savona, whom he described as having a good background for the post.

Author Tom Wolfe dead at 87
Wolfe was born March 2, 1930 and grew up in Richmond, Virginia, the son of an agronomist father and an arts-oriented mother. John Irving angrily denounced Wolfe by saying, "I can't read him because he's such a bad writer".

Italy has been plunged back into political turmoil after the president vetoed a eurosceptic finance minister, prompting the two populist parties to call for his impeachment.

Cottarelli said in such a case, the government's principal job "would be the ordinary administration of government and to accompany the country to elections after the month of August".

The 5Star and League leaders, Luigi Di Maio and Matteo Salvini, demanded that Mattarella call fresh elections, and Di Maio has called for the president's impeachment.

Mr Savona, a former industry minister, has questioned whether Italy should ditch the euro as its currency.

The Italian government bond market also rose as did the euro which stood around 0.3 percent higher against the dollar amid relief that a eurozonevcrisis had been averted for now.

The 5-Stars and the League together command just over half the lawmakers' seats.

Polls have suggested that the League, which won 17 percent of the vote in March, would see its support surge in any early ballot, while support for 5-Star remained strong.

Recommended News

  • Griezmann dismisses transfer talk after 'dream' final

    Griezmann dismisses transfer talk after 'dream' final

    Marseille fans vastly outnumbered Atletico's fans inside the Stade de Lyon, and made a nuisance of themselves throughout. Griezmann didn't waste the glorious chance to finish a side-foot after being teed up by Gabi who intercepted the ball.
    Kristen Stewart Just Broke All The Red Carpet Rules At Cannes

    Kristen Stewart Just Broke All The Red Carpet Rules At Cannes

    The high split of her gown allowed her to show off her lean legs, which were elongated by a pair of silver heels. Stewart was protesting against Cannes Film Festival's infamous and widely criticized heels-only rule for women.
    Senate saves net neutrality, now onto the House

    Senate saves net neutrality, now onto the House

    Patrick Leahy, D-Vt., and Bernie Sanders, I-Vt., both voted with the entire Democratic caucus in support of the legislation. The congressional effort comes less than a month before the rules are officially expected to expire, on June 11.
  • Ireland votes ‘yes’ to repeal constitutional abortion ban

    Ireland votes ‘yes’ to repeal constitutional abortion ban

    Varadkar has campaigned aggressively for repealing Ireland's abortion ban, but the vote's results are expected to be close. It has the potential to be a huge day for Ireland should this referendum pass and the constitution is amended accordingly.
    President Trump Claims ‘Spying’ on His Campaign Was Illegal. He’s Wrong

    President Trump Claims ‘Spying’ on His Campaign Was Illegal. He’s Wrong

    Trump is calling his newest attempt at discrediting special counsel Robert Mueller's Russian Federation investigation "spygate". The Democrats say the GOP-only meeting is inappropriate for any investigation, "much less one involving the president".
    Hamilton wins Spanish GP, strengthens lead in F1 standings

    Hamilton wins Spanish GP, strengthens lead in F1 standings

    Mexican Sergio Perez was ninth for Force India and Monegasque rookie Charles Leclerc took the final point for Sauber. It was the closest I've been to feeling it is all going right, but there are still things that are not quite ideal ".
  • LeBron’s Reaction to Chris Paul’s Game 5 Shimmy on Stephen Curry

    But now he will miss Game 6 of the Western Conference finals on Saturday night because of a hamstring injury . And he's supremely confident the Warriors will not only win that game, but also the Game 7 in Houston .
    Champions League final: Madrid to edge Kyiv thriller

    Champions League final: Madrid to edge Kyiv thriller

    Knowing Liverpool as a club, the people I had spoken to about Liverpool also, I knew Liverpool belongs to the Champions League. Ronaldo is looking to join an esteemed group of 10 players to win five European Cups by scoring in his fourth separate final.
    Government troops push back Taliban from west city in Afghanistan

    Government troops push back Taliban from west city in Afghanistan

    The Taliban issued a statement warning residents to remain inside their homes and called on people to "stay calm". In 2017, insurgents tried three times to overrun the capital, according to the Afghanistan Analysts Network.
  • Atletico charged by UEFA over 'racist' banner

    Atletico charged by UEFA over 'racist' banner

    It was also a memorable day for Fernando Torres, who will be leaving his boyhood club at the end of the season. Hats off to Marseille , a great team. "We did so again tonight".
    Woman flings poo in Tims

    Woman flings poo in Tims

    She then pulls down her trousers , proceeds to defecate on the floor, and then picks it up and flings it at the employee. According to police, the woman was released from custody and will appear in court at a later date.
    Scottish Parliament Votes To Refuse Consent For Britain's Brexit Bill

    Scottish Parliament Votes To Refuse Consent For Britain's Brexit Bill

    Nicola Sturgeon's government in Edinburgh insists that Holyrood must explicity agree to any changes before they can take effect. Members of the Scottish Parliament (MSPs) rejected the British government's bill by 93 votes to 30, reports Xinhua .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.