Brussels calls on Italy to stay committed to the 'European path'

Should the parties get into power they will demand a renegotiation of Italy's European Union budget contributions, the dismantling of a 2011 pension reform that raised the retirement age, and an end to sanctions against Russian Federation. 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. Italy, along with Greece, has taken the brunt of the Mediterranean migrant crisis and has been credited with saving Europe's honour for its efforts to save lives at sea.

The proposal likely to cause most alarm to financial markets is the creation in the EU of "economic and judicial procedures that allow member states to leave monetary union".

A new statement confirmed the new potential coalition had decided "not to call into question the single currency".

The League and 5-Star have failed to agree on forming a coalition between themselves after an inconclusive election on March 4, but they have enough votes together in parliament to block any other government from taking office. "I wasn't born just to make do".

Italian election pictures: Who will win the election in Italy?

The partnership between the League's Matteo Salvini and Mr. Di Maio would represent a blow to mainstream European political parties across the continent.

5-Star deputy Alfonso Bonafede also said the policy document was completed. "Now is the time for legality, security and push-backs".

(Copyright © 2015. All Rights Reserved.)
 
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