M5S and League agree contract for Italy's 'government of change'

M5S and League agree contract for Italy's 'government of change'

The far-right League and the 5-Star Movement have been discussing a common policy agenda for a week after a March 4 election ended in a hung parliament.

It also calls for a review of Italy's contribution to the European Union budget with the goal of "making it compatible" with the government's economic and fiscal plans.

M5S leader Luigi Di Maio and his Lega counterpart, Matteo Salvini, both claim that the two parties are no longer pushing for an Italian exit from the Eurozone.

The coalition could also fall out with Brussels over its plans for a clampdown on immigration and a call to cancel all economic sanctions on Russian Federation.

Di Maio shrugged off such warnings as the protests of "Eurocrats that nobody elected", while on Wednesday Salvini, attacked European Union commissioner Dimitris Avramopolous' request that Italy's new government not change its policy on migration.

The euro opt-out has gone, and calls for changes to European Union treaties and monetary policy are marked in red, meaning they are yet to be agreed.

In a Facebook video, Di Maio said that the establishment feared change but "the more they attack us the more I am motivated" to reach a deal. Italy's 10-year bond yield climbed almost 19 basis points to 2.13 percent and that was its highest level since early March and the biggest one-day rise since March 2017. The policy program will probably be published on Thursday, 5-Star said.

This would be the first time the 5-Star Movement has had a government role higher than the municipal level.

Actress' unborn baby dies after Park Slope crash
In March, Miles and her daughter, Abigail Blumenstein , were hit when a driver ran a red light in Brooklyn, New York City. Bruns claims she had a seizure before running the red light, which is what ultimately led to the horrific crash.

The 40-page document contains more than 20 sections, of which a handful - "six points, barely six lines", according to Casalino - still have a question mark over them.

Mr. Chiapponi said that would probably result in instability.

Then, European Commission Vice President Valdis Dombrovskis said Italy must continue to respect its commitments to the EU, including pledges to cut its big public debt, regardless of who takes over the helm of the new government in Rome.

Back in the currency markets, sterling rallied against both the dollar and the euro after a United Kingdom newspaper reported that Prime Minister Theresa May would tell Brussels that Britain was prepared to stay in the European Union's customs union after a transitional arrangement beyond 2021.

Analysts agree it is unlikely that Mr. Berlusconi would have a formal role in the next government, especially since Mr. Di Maio agreed to negotiate with Mr. Salvini only on the condition that he drop Mr. Berlusconi as a coalition partner.

The dollar has enjoyed a blistering rally in recent weeks as investors focus on the US Federal Reserve raising interest rates while central banks elsewhere push back policy tightening. Each party plans to consult its supporters over the weekend to see if they back the nascent government pact.

Benchmark Italian government bond yields nudged higher after a 16 basis point jump on Wednesday following reports, subsequently denied, that the prospective Five Star/League coalition government had drafted an economic plan that would seek 250 billion euros of debt forgiveness from the European Central Bank.

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