Italy’s Institutional Crisis Erupts

Five Star Movement and Northern League candidate Prime Minister, Giuseppe Conte, gives back his mandate to form Italy’s next government. The decision was taken after the President of the Republic, Sergio Mattarella, vetoed the nomination of Paolo Savona, economist and former minister known for his strong euroskeptic positions, as Minister of the Economy.

Members of both parties considered the appointment of Savona as a deal breaker, while the candidate minister did not take a step back to allow the formation of a new government. The scenarios are now bleak, as this is Italy’s most divisive institutional crisis of recent years.

Five Star Movement leaders Luigi Di Maio and Alessandro Di Battista confirm that an impeachment process against the President will be started by the party. In the meanwhile, Mattarella summoned the economist Carlo Cottarelli for tomorrow, probably to form an interim technocrat government.

Italy could now be heading soon for a new election, to be held this summer or next year.