Italy's Political Crisis Continues

Reuters: Italy renews attempts to form a government and end turmoil

ROME (Reuters) - Italy’s political crisis moved into unchartered waters on Wednesday, as the head of state sought a last-minute political compromise to end the three-month search for a government and restore calm to financial markets.

Prime Minister-designate Carlo Cottarelli, tasked by the president with calming tensions and laying plans for repeat elections later this year, raised hopes of a breakthrough on Wednesday with comments suggesting compromise was in the air.

Italy has searched for a government since inconclusive elections in March. Two anti-establishment parties came close to forming a ruling coalition last weekend, but backed away after the president demanded a change in their cabinet lineup.

Read more ....

WNU Editor: Bloomberg has a good summary on what is happening ....

.... Italy’s two populist leaders forged a coalition from very different policy platforms. They found a prime minister that both could accept. Then President Sergio Mattarella vetoed their finance minister and their bid for power foundered, unleashing chaos and rage in equal measure in Rome.

Mattarella may now ask a former IMF official to form a technocratic government. Five Star and the League meanwhile are talking about impeaching the head of state.

“We worked for weeks, day and night, to ensure the birth of a government that defends the interests of Italian citizens,” League Leader Matteo Salvini wrote on Facebook. “But someone (under pressure from whom?) said no to us.”

So the coalition had their choice of a finance minister vetoed by a President who wants a former IMF official to form a technocratic government. If people's votes do not matter .... that their choice of a government can be vetoed by someone who disagrees with them .... then what is the point of voting?

If this is not resolved .... the crisis in Italy is going to get far worse. My prediction. Italy will be oing back to the polls sooner rather than later.

More News On Italy's Political Crisis

Italy mulls new government solution to calm market turmoil -- AP
Italy government: Leaders talk amid political crisis -- BBC
Italy's power struggle is threatening European democracy, union leader says -- CNBC
Political storm threatens Italian bank recovery -- Reuters
Italy can't blame Brussels for its descent into the abyss -- Phillip Inman, The Guardian
What is Italy’s political crisis all about and why does it matter? -- Sam Meredith, CNBC
What the hell is going on in Italy? -- Annalisa Merelli, Quartz