Italy heads for populist government after months of…

Cottarelli said the election would be held in August if he failed to secure confidence votes now

Giuseppe Conte is set to be Italy's new prime minister.

The two leaders have named law professor Giuseppe Conte as their choice to remain Prime Minister and lead the coalition government.

Nearly three months after Italy's election, a right-wing populist coalition between the Five Star Movement and the Northern League had finally come up with a plan.

Though investors were relieved to avoid repeat elections, which they feared could have become a de facto referendum on the euro, they are now likely to refocus on the big spending plans of the League and 5-Star, which would add to its debts.

It was a reference to European Union officials, who have made clear in recent days their concerns - in occasionally undiplomatic terms - about Italy's euroskeptic direction.

Citing sources close to the talks, Reuters reported that Di Maio would lead the Industry Ministry and Salvini could head the Interior Ministry.

Stock markets in Italy and globally had plunged and Italy's borrowing rates soared earlier in the week when it appeared Italy was heading to new elections after President Sergio Mattarella vetoed the prospective partners' first pick for economy minister, collapsing the proposed coalition.

But while Conte will nominally hold the most powerful office in Italy, the driving forces in his administration will be the leaders of the two political parties that gained most votes in an inconclusive election in March - the right-wing League party and the anti-establishment Five Star Movement.

"I'm in deep love with Italy, bella Italia", European Commission President Jean-Claude Juncker told a conference on Thursday.

Amazon to restrict Australian customers to local site in July
The government would not back down on the new tax rules, which would raise AU$300 million a year, Morrison said. Australian users weren't happy with their government's decision, and are calling the GST as the "Amazon tax".

Spanish police release Browder as arrest warrant not valid
He also tweeted a photograph of an arrest document from the Spanish interior ministry, which said he was accused of fraud. He noted that Thursday's dust-up was, in fact, "the result of a SIXTH Russian arrest warrant using Interpol channels".

RISDON: Expansion critics - Ottawa has chosen West Coast over East Coast
They are led by British Columbia, which is trying to stop the pipeline development in the courts on environmental grounds. Vancouver Mayor Gregor Robertson called the pipeline an "unacceptable risk" that threatens 10,000 jobs in the harbour.

Juncker said at a conference Thursday that "Italians have to take care of the poor regions of Italy".

"There's no reference (in his CV) to masters or other university titles, but the simple and accurate description of his work as a scholar and university professor", the movement said in a post on its official blog.

He said "the mafia has always made us and will always make us sick, wherever there is injustice I will try to be there with a team".

The deal followed an extraordinary few days in which Mr Di Maio called for the head of state to be impeached, two successive prime ministers-designate were tasked to form a government, one of whom quit only to be reinstated on Thursday evening.

"The idea of allocating more money for the protection of the external border, so allocating more money for the management of migratory flows, more management for common security are all things for which we have been advocating more commitment by the European Union". Salvini late Wednesday said he isn't closing the doors on any solution but also indicated some resistance to the change, saying "if someone in Berlin or Paris wakes up in a bad mood that doesn't mean that an Italian minister gets kicked out".

Emerging from a similar meeting with a different ending Thursday night, Conte read off his Cabinet list and pledged that "we will work with determination to improve the quality of life of all Italians".

Carlo Cottarelli, a pro-austerity economist, promised to put together a government "very quickly" and said new elections would be held either in August or next year. The euro has been Italy's currency since 2002, when it replaced the Italian lira.

Both Mr Di Maio and Mr Salvini vowed not to support Mr Cottarelli and called for elections straight away.

Lorne Cook and Raf Casert contributed from Brussels, and Angela Charlton from Paris.

Related news:

Hot News

isis-killer-beheading-video-story-top Nicki Minaj Influenced A Lyric On Kanye West’s ‘Ye’ Album
Jun 02, 2018 - 01:01
On " Yikes ", Kanye raps: " Russell Simmons wanna pray for me too / I'ma pray for him "cause he got #MeToo'd". If he'd hewn closely to the 4:44-esque model of reconciling with his fans, he might have had something.

isis-killer-beheading-video-story-top National Football League players weigh sitting out season until Colin Kaepernick is signed
Jun 02, 2018 - 00:50
It has been pitched as a unanimous decision but Geragos told Amy Dash on her podcast that is not at all the case. Geragos did not name the owner he said testified under oath that he didn't sign Kaepernick because of Trump.

isis-killer-beheading-video-story-top Judge sides with Mueller team in Manafort case
Jun 02, 2018 - 00:47
Mueller is a Republican appointed by Trump's own deputy attorney general, Rod Rosenstein , who is himself a Republican. Lee said that "based on what I know now, those are not words that I would use to describe this".

isis-killer-beheading-video-story-top Afghanistan Interior Ministry attack in Kabul as ISIS and Taliban continue assault
Jun 02, 2018 - 00:41
The militants traded fire with security force before they were killed within minutes. The Amaq statement did not provide the names or specify the number of attackers.

isis-killer-beheading-video-story-top Capitals favored over Knights in Game 3 of Stanley Cup Final
Jun 02, 2018 - 00:32
On one end, Vegas netminder Marc-Andre Fleury has been channelling his inner Dominik Hasek with a barrel-roll stop on T.J. Everyone's got jerseys on, every store is selling Golden Knights stuff, memorabilia is everywhere". "We played smart.

isis-killer-beheading-video-story-top Facebook is shutting down its notorious 'trending' feature
Jun 02, 2018 - 00:29
Another feature, called " Today In ", shows people breaking news in their area from local publishers, officials and organizations. In its announcement on Friday (June 1), Facebook said the section was driving only marginal traffic to news publishers.

isis-killer-beheading-video-story-top Severe obesity rates double during primary school, figures show
Jun 01, 2018 - 16:25
Severe obesity can also shorten a person's life by 10 years - an equivalent loss to the effects of lifelong smoking. This compares with 14,787 out of 629,359 (2.35%) of four and five-year-olds in reception class.

isis-killer-beheading-video-story-top Manchester City's Pep Guardiola would welcome Maurizio Sarri to Premier League
Jun 01, 2018 - 16:02
The 59-year-old held talks with Napoli over an extension, however, De Laurentiis turned to Ancelotti amid Sarri's growing links with Chelsea .

isis-killer-beheading-video-story-top Pakistan Legend Shahid Afridi Decides to Call it a Day at Lord's
Jun 01, 2018 - 15:37
Teenage cricket sensation Lamichhane recently made an impressive Indian Premier League debut. Carlos Brathwaite, West Indies' captain, was happy to be given first-use of the pitch.

isis-killer-beheading-video-story-top Trump Escalates Feud With Disney’s Bob Iger in Latest CEO Clash
Jun 01, 2018 - 15:33
Barr's post-firing tweets included an apology to those who lost their jobs because of her words, but her choice of retweets struck a defiant tone.

isis-killer-beheading-video-story-top Xiaomi Mi 8 is official: Everything you need to know
Jun 01, 2018 - 15:29
There is no official news on when the Xiaomi Mi Band 3 will be arriving to the Malaysian market as well as the local price for it. The Mi 8 comes with a metal and glass design along with 6.21-inch Samsung AMOLED display , and a noticeable chin at the bottom.

isis-killer-beheading-video-story-top Trump weighs in as backlash against ‘racist’ Roseanne Barr continues
May 31, 2018 - 17:44
Trump , who has been an ardent supporter of the show , is now weighing in on the matter on Twitter . They do it because we have a white trash racist president.

isis-killer-beheading-video-story-top Zidane lauds 'crazy' third consecutive Champions League title
May 31, 2018 - 17:40
Liverpool eventually lost 3-1, with the side from the Spanish capital lifting their third consecutive Champions League trophy. On Sunday the forward eased fears that he could miss the forthcoming World Cup in Russian Federation .

US tariffs: Steel and aluminium levies slapped on key allies
May 31, 2018 - 17:40
Trump's trade chief, Robert Lighthizer, in Washington for two hours in an effort to get a permanent exemption on tariffs. Ross offered little detail about what the EU, Canada and Mexico could do to have the tariffs lifted.

isis-killer-beheading-video-story-top Thousands evacuated due to NC dam in ‘imminent danger’ of failing
May 31, 2018 - 17:37
Alberto was more of a rainstorm than a wind threat, but the National Weather Service said at least one tornado had been confirmed. The State of Emergency will allow state officials to coordinate storm response and expedite movement of relief effort vehicles.