Belfast Telegraph

Home News World

Talks held in Italy amid political crisis

Investors are concerned that a new election could become a referendum on whether Italy will stick with the euro currency.

Italy’s premier-designate Carlo Cottarelli has returned to the presidential palace for informal consultations amid continued market turmoil and uncertainty about the prospects of his proposed government.

Milan’s stock index opened slightly higher on Wednesday after Asian markets slid on investor concern that a new election could become a referendum on whether Italy will stick with the euro currency.

The uncertainty rose after President Sergio Mattarella’s designation of Mr Cottarelli, a former IMF official, to head a politically neutral government failed to calm markets.

bpanews_73021a3a-3212-4930-aab7-c1dbe2b2658f_embedded756285
Italian president Sergio Mattarella (Fabio Frustaci/ANSA via AP)

The appointment also riled populists, whose attempts to form a government were quashed by Mr Mattarella over their designation of a Eurosceptic economy minister.

Mr Cottarelli returned for informal discussions on Wednesday with Mr Mattarella after asking for more time to come up with a list of cabinet ministers, and left without comment.

Daily News Headlines Newsletter

Today's news headlines, directly to your inbox.

Popular

From Belfast Telegraph