Italian markets spooked by populist proposal

17 May, 2018, 17:08 | Author: Wade Massey
  • ANSA       
        +CLICK TO ENLARGE

The League's support largely is centered in northern Italy, where it backs lower taxes and reining in central government spending, a popular platform in Italy's most productive region.

Fed up with the country's long, seemingly irreversible economic decline, persistent high unemployment and a refugee and migrant crisis, Italy's voters turned on the political centre that has governed (or failed to govern) Italy since the 1980s.

Salvini accused the Commission of "unacceptable interference". M5S leader Luigi Di Maio and the League's Matteo Salvini will have the final say, reviewing and signing the document before presenting it to President Sergio Mattarella.

They also share an anti-establishment sentiment that has taken root in Italy but which has worldwide parallels such as Britain's vote to leave the European Union and the USA election of President Donald Trump.

"We see the Financial Times write "Rome opens its gates to the modern barbarians"," he said, referring to an FT headline from Monday.

The parties say much of the 39-page draft has radically changed.

Only five percent of Italian government bonds are held by non-EU residents, making the chances of a massive flight of capital unlikely, ADM Investor Services market strategist Marc Ostwald said.

The two parties are planning a budget worth tens of billions of euros, with plans for a minimum universal income and a flat tax of 15% for low and middle earners.

The dollar stood tall against a basket of currencies on Thursday, as the euro retreated to a five-month low on concerns the political developments in Italy could cause wider disruptions in the common currency bloc.

EPS for Antero Midstream Partners LP (AM) Expected At $0.39
CoreCommodity Management LLC acquired a new position in Magellan Midstream Partners during the 4th quarter worth about $158,000. The company had revenue of $27.61 million for the quarter, compared to analysts' expectations of $27.23 million.


Classy Djokovic schools Dolgopolov in Rome
Open finalist Roberta Vinci bid her fans an emotional farewell following the final match of her career. Nishikori took a one-set lead after a first set-tiebreak that featured nine mini-breaks.


EU countries agree Iran deal 'not perfect': German Chancellor Angela Merkel
Last week, the US withdrew from the Iran nuclear deal, signed between Tehran and the P5+1 powers (China, France, Russia, UK, US, plus Germany) three years ago.


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.

There is still no word on who the parties want to lead the government.

But this week may go down as the moment when Mr Salvini and Mr Di Maio solidified their alliance on a platform - and tone - of conflict and defiance towards Brussels.

How risky for the EU? The top two finishers - the upstart anti-establishment 5-Star Movement and the nationalist League party - have been inching this week toward an alliance that would have a razor-thin majority in Italy's parliament. Mr. Mattarella granted them a few more days to try to hash out their differences.

Both have strong ideas about how to deal with Italy's ongoing migrant crisis and crushing debt without sticking to European Union regulations.

Populist and anti-immigrant parties have led European Union governments in Eastern Europe and even in neighboring Austria, but Italy - with the 28-nation European Union bloc's fourth-largest economy and population - would pose a political challenge of another magnitude to the alliance's liberal order.

With Italians increasingly restive over the failure to form a new government in Rome, the parties angling for power do not have the luxury of time.

Any deal "will be put to our members through a vote online", Di Maio said. "We can not go to Brussels with positions that are far apart", he said.

"I see in a certain establishment such a fear of change", he said. "It's important to stay the course", Dombrovskis said.

Recommended:

  • Now, RJD to stake claim to form govt in Bihar

    Now, RJD to stake claim to form govt in Bihar

    This is gundagardi of BJP; it will be called as a black day in democracy if BJP is allowed to form the government in Karnataka. However, the government invited BJP's Yeddyurappa and asked him to prove majority on the floor of the house.
    Dublin-based cryptocurrency firm Circle raises $110m

    Dublin-based cryptocurrency firm Circle raises $110m

    Goldman Sachs-backed payment company Circle has announced that it is introducing a cryptocurrency version of the USA dollar. We're over the moon to have one of the most important and forward-thinking companies join our investor's list.
    Pep Guardiola: 'Liverpool will challenge for Premier League title next season'

    Pep Guardiola: 'Liverpool will challenge for Premier League title next season'

    Gabriel Jesus struck with virtually the last kick at St Mary's to take City to the century mark in suitably dramatic fashion.
  • Stunning OnePlus 6 wallpapers look awesome on iPhone X

    Stunning OnePlus 6 wallpapers look awesome on iPhone X

    The glass starts showing damage at level 6, with deeper marks appearing at level 7, which is pretty much what was expected. And we are certainly glad to share that OnePlus 6 passes the extensive scratch, burn, and bend test with flying colours.
    Meghan Markle's father 'heartbroken' to miss daughter's wedding after surgery

    Meghan Markle's father 'heartbroken' to miss daughter's wedding after surgery

    The reason why? Markle and Harry wanted a more casual - if you can call a royal wedding that - celebration. Incidentally, he was also being treated in the hospital last week after hhe had a heart attack.
    New Ebola OUTBREAK causes fatalities as disease enters 'NEW PHASE'

    New Ebola OUTBREAK causes fatalities as disease enters 'NEW PHASE'

    Also on Wednesday, the World Health Organization (WHO) announced that it was intensifying its vaccination campaign in Congo. Authorities said they were tracing all air, river, and road routes in and out of the city to find the source of the virus.
  • Women's T20 Challenge: BCCI announces Trailblazers and Supernovas teams

    Women's T20 Challenge: BCCI announces Trailblazers and Supernovas teams

    Mandhana and Harmanpreet will lead IPL Trailblazers and IPL Supernovas respectively in the upcoming Women's T20 Challenge Match. Rajeev Shukla, Chairman, IPL, said, "We were in talks with several Boards and I am pleased with the outcome".
    Seven dogs shorter than knee-high attack, kill woman in Oklahoma

    Seven dogs shorter than knee-high attack, kill woman in Oklahoma

    Tracy Garcia , 52, from Oklahoma, was attacked by the seven dachshunds on 10 May, but police have only now released her identity. Dinwiddie said it was apparent that the dogs have been living in the woods. "This is just a bad deal all the way around".
    Pitt set for prime time

    Pitt set for prime time

    With the 8 p.m. start time, Penn State will be playing at least one night game for the 19th straight season. The blue and white's longest homestead is three games, while their longest road trip is just two contests .
  • Walmart (WMT) Shares Obtained by Daiwa Securities Group Inc

    Walmart (WMT) Shares Obtained by Daiwa Securities Group Inc

    The firm has a market capitalization of $259,297.30, a price-to-earnings ratio of 19.80, a P/E/G ratio of 3.09 and a beta of 0.54. Morningstar set a $91.00 price target on shares of Walmart and gave the stock a "buy" rating in a report on Thursday, May 10th.
    Una iPhone X Tesla, te costará 4.587 dólares - English

    Una iPhone X Tesla, te costará 4.587 dólares - English

    Unlike Caviar's other products, the iPhone X Tesla isn't just an iPhone case, it's a case that's pre-attached to an iPhone. The business says three individuals motivated it to create the iPhone X Tesla "Steve Jobs, Nikola Tesla and Elon Mask".
    Jay Rock Makes Mighty TDE Return & Comes Through For The

    Jay Rock Makes Mighty TDE Return & Comes Through For The "Win"

    Jay Rock has shared "Win", a new single that'll presumably be featured on his album that's due out on TDE later this year. There's even some ad-libs from Kendrick Lamar throughout the record that give it some added TDE flavor.


Popular

Salman Khan Not Willing To Work With Children In Films; Here's Why
The teaser only shows a glimpse of their sizzling hot chemistry and we can not wait for the full song to come out tomorrow. The track is look like a romantic song. " Race 3 " also stars Anil Kapoor , Bobby Deol , Saqib Saleem, and Daisy Shah.

After Nemanja Matic, Jose Mourinho is gunning for another Chelsea star
Their £70 million man Alvaro Morata , or new arrival Olivier Giroud, who cost them just £18m? The 26-year-old further added, "I really don't think we're far away ".

Former SEC Commissioner Mike Slive passes away at 77
Slive's reign as the BCS coordinator came right as the system was expanding to introduce a fifth stand-alone championship game. For a man who served in a position that drew a lot of ire, Slive remained a man of integrity throughout his career.

Five people dead in shooting at rural Texas home
Late Wednesday night, the Tarrant County Medical Examiner identified the two men involved as Justin Painter and Seth Richardson. Shortly before they responded to the scene, firefighters learned there were multiple victims inside the home.

Syrian regime forces seize rebel enclave in Homs
The UK-based observatory said that some 34,500 people, militants and their families, left the area as part of the deal. On May 2, the Syrian regime and opposition groups agreed to a cease-fire in the Homs province's northern countryside.

Hawaii born Broadway actress injured in tragic crash loses unborn baby
The driver, Dorothy Bruns, was arrested at her Staten Island home on Thursday, May 3, and has been charged with manslaughter. A couple of months ago I posted about Ruthie Ann Miles , our Tony Award winning actress friend in NY who had lost...

Ōkami HD Hits Nintendo Switch this August
You can reserve a " for fun " ticket to play casual matches, or a " for glory " ticket that puts you in a more competitive match. Nintendo said you'll want to be sure to add e3expo@e3expo.com to your email so it doesn't get associated as junk.

YouTube Expanding Music Credits on Videos
Why YouTube has waited so long to present this music discovery feature is anyone's guess ( Shazam anyone), but here it is. The latest development in YouTube's progression of updated features will put Musical Artists in the driver seat for once.

Mothercare UK swings axe of 50 stores and brings back ousted CEO
Earlier this year, toy store chain Toys R Us collapsed into administration, as did electronics retailer Maplin. Shares in Mothercare were up 4.8 pence at 26.6 pence at 0832 GMT, valuing the business at 46 million pounds.

RCom shares nosedive 20.5% as NCLT admits Ericsson's bankruptcy petition
However, Tuesday's order from the NCLT means that the asset sale would now be overseen by a court appointed administrator. Recently implemented bankruptcy rules bar takeovers of stressed assets by entities related to the defaulting promoters.