5/30/2018, 11:14 AM (Source: TeleTrader)
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League's Salvini urges Mattarella to set new Italian election date

The leader of the Italian anti-establishment party Northern League, Matteo Salvini urged the country's President Sergio Mattarella to set the date for new general elections "as soon as possible" following the inability of all sides to reach an agreement and form a new government at the moment, the ANSA news agency reported on Wednesday. "This is my appeal: Sergio Mattarella give us a date for the vote and the Italian people will do justice for what has happened," Salvini said in Pisa. However, he said that he is against the election taking place on July 29 because it would prevent many citizens from voting due to the Ferragosto, the annual Italian summer vacation period.

Meanwhile, it was reported that Mattarella met with his prime minister pick Carlo Cottarelli earlier today for informal talks dedicated to forming the new interim government. Yesterday, Cottarelli failed to present Mattarella a list of ministers, but "updated the head of State on the political situation for three-quarters of an hour."

However, Italian markets managed to recover from yesterday's selloff despite the political deadlock, with FTSE MIB trading 0.42% higher at 10:55 am CET. Meanwhile, the euro also recuperated after falling to the lowest level in six and a half months yesterday, adding 0.53% against the dollar to sell above the 1.16 mark.

Baha Breaking the News (BBN) / FH