Published: Thu, May 17, 2018
Global News | By Blake Casey

No deal yet: Italy's populist leaders differ on key issues

No deal yet: Italy's populist leaders differ on key issues

"It would be insane to give up at the moment of truth", League leader Matteo Salvini said in a live video stream on Facebook, adding that he would not be intimidated by negative reaction from financial markets or attacks from the media.

Fed up with the country's long, seemingly irreversible economic decline, persistent high unemployment and a refugee and migrant crisis, Italy's voters turned on the political centre that has governed (or failed to govern) Italy since the 1980s.

The parties' leaders, Luigi Di Maio of M5S and Matteo Salvini of the League (who counts the likes of Marine Le Pen and Viktor Orbán as his allies), were quick to say this leak was premature, and a later version of their contract showed the section on Europe had been much watered down.

Betway's Alan Alger said: "The draft plans from Five Star and The League will have put Brussels on red alert".

Another commissioner, Dimitris Avramopoulos, was also quoted on Tuesday as weighing in on Italian politics, saying he hoped the new government maintained current immigration policies.

Bets that the Federal Reserve will in fact be an outlier in tightening monetary policy among major central banks and signs the euro zone's economy recovery has peaked has seen the euro slide from three-year highs of above $1.24 in April.

Di Maio shrugged off such warnings as the protests of "Eurocrats that nobody elected", while on Wednesday Salvini, attacked European Union commissioner Dimitris Avramopolous' request that Italy's new government not change its policy on migration.

Common player to feature on FA Cup final ball
Martial is upset with his place at United after being yanked in and out of the team by Mourinho. At the time they were Premier League champions, and therefore in a strong bargaining position.


As the likelihood of a populist government in Italy increases, the yield on Italian government bonds - a measure of investor confidence in the country - has climbed.

Losses in Asian share markets, however, were limited after US equities advanced on Wednesday, led by retail and technology shares, even as a rise in USA 10-year Treasury yields to an nearly seven-year high suggested more competition for equities.

The dollar index rose 0.4 percent to 93.625, its highest since December 19.

They had argued that their proposal to hold a referendum on whether to leave the eurozone was a thing of the past, even as the party's founder, the comedian Beppe Grillo, floated the idea again this month.

As part of the immediate fallout, the spread between Italy's and Germany's 10-year bond yields grew. Each party plans to consult its supporters over the weekend to see if they back the nascent government pact. However, three 5-Star sources said the main stumbling point remained who should head the administration.

They also share an anti-establishment sentiment that has taken root in Italy but which has worldwide parallels such as Britain's vote to leave the European Union and the USA election of President Donald Trump. Di Maio has pledged to guarantee a minimum income to the unemployed. Both leaders are young: Mr. Di Maio is 31, and Mr. Salvini is 45.

As of Wednesday morning, officials involved in the talks insisted that Five Star and the League were finally close to a deal, though it was still unclear whether the two sides had settled on a choice for prime minister.

Like this: