ROME (Reuters) - Italy’s president is expected to ask a former International Monetary Fund official on Monday to head a stopgap government amidst political and constitutional turmoil, with early elections looking inevitable.Like, egad, a sign of bankruptcy.
Why can't the president head a stopgap rule? If this fouls up there will be contagion. Here is the proximate cause:
Italy sank deeper into political turmoil as populist leaders pulled the plug on their attempt to form a government after the president rejected the choice of a euro-skeptic, Germany-bashing candidate as finance minister. The anti-establishment Five Star Movement said it was considering proposing impeachment of President Sergio Mattarella after his veto, while anti-immigrant League leader Matteo Salvini hinted at a conspiracy and made a thinly veiled call for fresh elections.Conspiracy and plots mean another election. The Italian budget will not survive the interest charges. Tomorrow is another European flight the Treasuries.
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