Money Italy's Populist Leaders Set to Meet in Final Push for Power

04:55  17 may  2018
04:55  17 may  2018 Source:   bloomberg.com

Italian Populists Seal Agreement to Challenge EU Establishment

  Italian Populists Seal Agreement to Challenge EU Establishment Italy’s populist leaders sealed a coalition agreement that aims to ramp up spending on the poor and slash taxes in a direct challenge to the European Union establishment. After 10 days of negotiations, 31-year-old Five Star leader Luigi Di Maio said Friday that he’s settled the final issues with Matteo Salvini, 45, of the anti-immigrant League and their policy platform is ready for party members to vote on. The program, posted online, demands a review of EU budget rules, an end to economic sanctions on Russia and pledges to roll-back pension reforms that raised the retirement age.

powered by Ask. / Leader of the League party, Matteo Salvini, arrives to address the media after meeting with Italian President Sergio Mattarella, at the Quirinale presidential palace, in Rome, Monday, May 14, 2018. Italy ’ s rival populist leaders asked for more time to make a coalition deal.

powered by Ask. / Leader of the League party, Matteo Salvini, arrives to address the media after meeting with Italian President Sergio Mattarella, at the Quirinale presidential palace, in Rome, Monday, May 14, 2018. Italy ’ s rival populist leaders asked for more time to make a coalition deal.

Italy’s populist leaders are set to meet Wednesday in a final push for a coalition agreement with bond-market concerns mounting.

The policy program is 90 percent settled, according to a League official who asked not to be named discussing confidential plans. Outstanding issues include security, immigration and justice, according to a Five Star official.

Five Star leader Luigi Di Maio and anti-immigrant League chief Matteo Salvini are entering the final stages of days-long talks that would see the two parties sharing cabinet responsibilities -- though they’ve yet to say who will be prime minister. Corriere della Sera reported that the two leaders could take turns.

Europe's Italian Problem Is Bigger Than Brexit

  Europe's Italian Problem Is Bigger Than Brexit Italy isn't going to leave the European Union. That's what makes it so dangerous.The new government finally taking shape in Italy is one of the weirdest coalitions you could imagine — and a pretty effective combination if your aim was to sabotage the European Union. Although predictions about where this Italian misadventure is heading are difficult, it could easily be worse than Brexit for the EU.

powered by Ask. / Leader of the League party, Matteo Salvini, arrives to address the media after meeting with Italian President Sergio Mattarella, at the Quirinale presidential palace, in Rome, Monday, May 14, 2018. Italy ’ s rival populist leaders asked for more time to make a coalition deal.

powered by Ask. / Leader of the League party, Matteo Salvini, arrives to address the media after meeting with Italian President Sergio Mattarella, at the Quirinale presidential palace, in Rome, Monday, May 14, 2018. Italy ’ s rival populist leaders asked for more time to make a coalition deal.

“We should be able to close the government program by the end of today,” Salvini said in a live Facebook video. “If we do, names will be next.”

a screenshot of a video game: BTPs Rumbling © Bloomberg BTPs Rumbling

More than two months after Italy’s inconclusive election on March 4, the two sides have repeatedly blown through deadlines set by President Sergio Mattarella as they try to square their different policy priorities.

League economic adviser Claudio Borghi told reporters there is no proposal to cancel part of Italy’s debt in the draft program. He said there is “simply the request for a change in accounting rules” so that securities bought by the European Central Bank would not impact the debt-gross domestic product ratio, adding the request would apply to all EU countries.

Italy's 5 Star, League Reach Deal to Govern Nation

  Italy's 5 Star, League Reach Deal to Govern Nation Italy’s anti-establishment 5 Star Movement and hard-right League party have reached an agreement on a government program, likely clearing the way for the formation of a governing coalition between Italy’s two largest anti-establishment parties.ROME—A movement that channeled Italians’ rage at mainstream politicians struck a pact with a hard-right nationalist party to govern the country, a major prize for the political insurgencies that have been shaking Europe’s establishment.

Italy ’ s rival populist leaders asked for more time to make a coalition deal. Leader of the League party, Matteo Salvini, addresses the media after meeting with Italian President Sergio Mattarella, at the Quirinale presidential palace, in Rome, Monday, May 14, 2018.

Italy ’ s rival populist leaders asked for more time to make a coalition deal. Leader of the League party, Matteo Salvini, addresses the media after meeting with Italian President Sergio Mattarella, at the Quirinale presidential palace, in Rome, Monday, May 14, 2018.

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