Former IMF official takes the helm in Italy
The decision to appoint Carlo Cottarelli to form a stopgap administration sets the stage for elections
Rome — Italy’s president set the country on a path back to fresh elections on Monday, appointing a former IMF official as interim prime minister with the task of planning for snap polls and getting the next budget passed. The decision to appoint Carlo Cottarelli to form a stopgap administration sets the stage for elections that are likely to be fought over Italy’s role in the EU and the eurozone. The eurozone’s third-largest economy has been seeking a new government since inconclusive March elections, with anti-establishment forces abandoning their efforts to form a ruling coalition at the weekend after a standoff with President Sergio Mattarella. Mattarella vetoed the parties’ choice of a eurosceptic as economy minister, prompting the Five Star Movement and far-right League party to accuse the president of betraying voters. The prospect of another election rattled financial markets, with investors worried the vote could become a de facto referendum on Italy’s euro membership. The e...
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