Page 8 - ARUBA TODAY

A8 WORLD NEWS
Monday 28 May 2018

Power eludes Italy’s populists, angry over president’s veto

By FRANCES D’EMILIO “supporting a position
Associated Press expressed more than once
ROME (AP) — Italy’s that could probably, or in
president on Sunday fact inevitably, provoke
vetoed a euro-skeptic Italy’s exit from the euro.”
choice for economy Last week, the spread
minister, foiling a bid by of points between Italy’s
populists to form Italy’s bonds and benchmark
next government and German bonds grew
increasing the prospects of alarmingly, and Milan’s
a quick return to the polls, stock market suffered losses
12 weeks after national as investors were spooked
elections produced a about the intentions of the
political impasse. populists.
The pair of rival populists “The losses in the stock
who had agreed to forge market, day after day, burn
a governing coalition resources and the savings
together exploded in of our companies and of
anger after President Sergio those who invest in them,”
Mattarella announced at Mattarella said. “And they
the Quirinal presidential portend concrete risks for
palace that he was refusing the savings of our fellow
to appoint a minister citizens and for Italian
whose views could rattle families.”
already nervous markets Savona, who served
and drive up Italy’s already Premier-designate Giuseppe Conte addresses the media after a round of consultations to form as industry minister in a
staggeringly high debt. the Cabinet ministers, in Rome, Thursday, May 24, 2018. government in the 1990s,
Luigi Di Maio, who was Associated Press has questioned whether
determined to see his added: “we’re not a free government, to the blame the ‘establishment’ Italy at some point should
anti-establishment 5-Star country” but have “limited palace late Monday for denying them the right ditch the euro as its official
Movement, Parliament’s sovereignty.” morning. Mattarella was to govern,” Piccoli said. currency.
largest party, achieve The political novice and expected to ask the former Mattarella had previously Outgoing Economy
government power for 5-Star supporter selected International Monetary warned that if a political Minister Pier Carlo Padoan
the first time, raised the by Di Maio and Salvini to Fund official to assemble government failed to take contended that the
specter of a move to be premier told reporters and lead a government shape, he would be forced real problem wasn’t
impeach Mattarella, who, at the palace he had tried of “technocrats” until early to appoint a non-political Savona, but the “clearly
as head of state, must give his best but didn’t succeed, elections. premier to guide the unsustainable” platform
his approval to any new four days after Mattarella But as analyst Wolfango country to fresh elections of a populist government
government. formally gave him a Piccoli noted early Monday before year’s end. “that doesn’t rule out a
“If we go to vote (again) mandate to try to form the that such a government On Sunday night, he said he Plan B: that is, in the face
and we win, and then we government on behalf of risks losing mandatory would “dutifully” consider of European pressures, one
go back to the Quirinale the populists. confidence votes in each requests by political parties must leave Europe.”
and they tell us we can’t “Good luck to anyone” chamber of Parliament. for early elections. With the prospect of
go into a government, who next gets tapped by The 5-Stars and the League Salvini had virtually given elections possibly looming
for this I say, we must Mattarella to be premier- together command just an ultimatum to Mattarella in a few weeks or months,
put the president under designate, Giuseppe over half the lawmakers’ over his pick for economy Salvini might see a boost
accusation” in Parliament, Conte, a law professor at seats. “This means that Italy minister, Paolo Savona. in what already has been
Di Maio said in a phone call the University of Florence, will be left with no effective Mattarella told reporters steadily growing popularity,
to a late-night talk show. told reporter. He said he government backed by he had approved all of said political analyst
Right-wing leader Matteo did best to try to give the a clear political majority the coalition’s Cabinet Maurizio Molinari, who is
Salvini, who overcame country “a government in Parliament until the end candidates except that of La Stampa newspaper’s
rivalry with Di Maio to try of change.” An irritated- of the year,” said Piccoli, Savona. editor-in-chief.
to forge a coalition with looking Mattarella said he co-president of Teneo “The designation of the Salvini was “much stronger”
him, told a rally of his would reveal his next move Intelligence. economy minister always in opposing Mattarella,
League party supporters “in a few hours.” “The main risk is that constitutes an immediate posturing that could
after learning his pick for Italian media said the the stand-off will further message of trust or alarm” expand his sovereignty-
economy minister was president would convene embolden the 5-Star for financial markets, leaning base, Molinari said.
rejected: “If we’re not Carlo Cottarelli, an Movement, and, Mattarella said, adding The League has triumphed
free to decide, better economist who assisted especially, the League. that he insisted on some in several recent regional
to go back to vote.” He a former center-left The two populist parties will someone who was not elections since March 4.q