Italy's president asked Giuseppe Conte to head a coalition of the 5-Star Mo...
Conte, an academic with no political affiliation but considered close to 5-Star, said that work on the 2020 budget was his priority.
The EU imposes budget rules on member states with the aim of ensuring financial stability in the bloc. It has had a testy relationship with Rome under the outgoing administration, with League leader Salvini blaming the EU rules for impoverishing Italians. The prospect of a new administration led by Conte, who was considered a voice of reason within the 5-Star/League coalition, has lifted markets. Investors are betting that Italy will get a fiscally prudent government that will avoid confrontation with Europe.was heading for its best weekly performance in six months, gaining 2% to nearly cover all of this month's losses. If the gains are sustained, Italy would be the only index in Europe to finish the month in positive territory.
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