Sergio Mattarella, president of Italy, vetoed the choice of economy minister. prompting the Prime Minister to resign
- Giuseppe Conte had been named as the coalition's prime minister
- He resigned
So, it looks like attempts at forming a coalition Five Star Movement / League have failed
The election was March 4 and Italy still has no government
Stay tuned for developments but as it stands this is a euro negative input (on uncertainty … having said this, League is an anti-euro party, and Five Star are not too much more in favour of it, so if you'd like to make the argument it could be euro positive go right ahead …. but I'm on the 'uncertainty' as a negative for the time being pending further developments/turmoil … furthermore, EUR/USD is trading a little higher than Friday's closing levels so there is that …. )
