6/1/2018, 4:13 PM (Source: TeleTrader)
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Conte sworn in as Italian prime minister

Giuseppe Conte was sworn in as the new Italian prime minister on Friday and is set to hold his first cabinet meeting later in the day. Ministers nominated by Conte a day earlier are also being sworn in today.

Earlier in the week, Conte failed to form a government as President Sergio Mattarella rejected his anti-euro economy minister pick, Paolo Savona. However, Conte was re-nominated to head the coalition government between the anti-establishment Five Star Movement and the right-wing Northern League after he decided to hand the post of the economy minister to Giovanni Tria, a euro-friendly professor of economics.

The formation of the new government marks the end of political uncertainty in the country which had been present since the parliamentary elections in early March, as well as the possibility of a new election before the end of the year.

Breaking the News / NP