Italy mulls new government solution to calm market turmoil
ROME (AP) — Italy's premier-designate said Wednesday that "new possibilities" had emerged to form a government, and that he wanted to give the option a chance given that the prospect of new elections roiled global markets this week.
The two populist parties that got the most votes in the March 4 election, the 5-Star Movement and the League, failed to create a government over the weekend after President Sergio Mattarella vetoed their proposed economy minister.
Mattarella then turned to former IMF official Carlo Cottarelli to form a neutral government of technocrats to lead Italy until early elections. The prospect of a new vote, however, roiled financial markets in Italy, which is Europe's third-largest economy, and around the world.