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  • Italy's Prime Minister-designate Giuseppe Conte talks to the media at the Quirinal Palace in Rome, Italy, May 31, 2018.

    Italy's Prime Minister-designate Giuseppe Conte talks to the media at the Quirinal Palace in Rome, Italy, May 31, 2018. | Photo: Reuters

Published 31 May 2018

Five Star Movement and League formed a coalition and put forward a euro-friendly minister of economics.   

After months of discussion and four days of tense political maneuvering, Italy has a government.

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The populist Five Star Movement pick, Giuseppe Conte, will be sworn in as prime minister on Friday afternoon along with his 19 member cabinet. Conte told reporters, "We will work with determination to improve the quality of life of all Italians."

Giovanni Tria, 69-year-old independent was placed into the previously disputed post of minister of economics. He’s an economics professor who has been openly critical of the EU's economic fiscal rules but has not suggested that Italy leave the eurozone or the union.

Conte’s original economics pick, eurosceptic Paolo Savona, was turned down on Monday by President Sergio Mattarella for fear he would propose pulling Italy out of the EU, sparking a domino effect of tense bargaining. Mattarella proceeded to name former IMF consultant, Carlo Cottarelli as the interim prime minister and for snap elections later this year and Conte renounced from his designated prime minister post.

The controversial decision rocked Wall Street, and the two leading parties - the Five Star Movement and the right-wing League party - eventually formed a coalition.

The League’s Matteo Salvini and Five Star’s, Luigi Di Maio reached the deal on Thursday afternoon telling the press, "All the conditions have been fulfilled for a political, Five Star and League government."

Both politicians have managed to snag important cabinet positions within the newly named government. Salvini, known for his anti-immigration stance, is set to be named interior minister and Di Maio will lead the industry and labor ministry. Both will act as joint deputy prime ministers.

Enzo Moavero Milanesi will be sworn in as Italy’s foreign minister and Paolo Savona was handed the position of European Affairs Minister and will be Italy's representative in Brussels.

All newly appointed leaders will face a confidence vote in both the low and upper houses next week.

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