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Italy Poised For Populist Coalition

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Two anti-establishment parties in Italy are set to present details of a coalition agreement Monday, but market participants do not seem substantially worried about the prospect of a populist government.The left-wing Five Star Movement (M5S) and the right-wing Lega are due to meet the country’s president Monday afternoon to outline plans for a new government, potentially breaking months of political deadlock. The two parties will put forward names to be the next prime minister. Giulio Sapelli, an economics professor, is supported by M5S while Lega is backing law professor Giuseppe Conte, according to Italian newspaper Corriere. President Sergio Mattarella will then have the final word.If approved, the deal will avoid a repeat of the March general election. M5S was the most voted for party in the election but didn’t receive enough votes to govern alone. Meanwhile, Lega saw a better-than-expected result and was endorsed to form a government with the backing from other right-wing parties.

Source: Italy is poised for an anti-establishment leader – CNBC

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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