Berlusconi gives go-ahead for League-5Star government

by Antonio Miles May 11, 2018, 4:02
Berlusconi gives go-ahead for League-5Star government

With the two parties' support building since the indecisive vote earlier this year, markets are nervous that the League will muster enough support to break away from its alliance with right-wing party Forza Italia, Rabobank said.

Luigi Di Maio, leader of the anti-establishment 5-Star Movement, and Matteo Salvini, who heads the far-right League, are both demanding early elections after a third round of negotiations failed to end the deadlock that has been in place since an inconclusive election in March.

The League has said it wants to introduce a flat tax pegged at 15 percent.

"Significant steps forward have been made on the composition of the executive and the premier in view of a constructive collaboration between the parties with the aim of deciding everything in a short period of time to give a response and a political government to the country as soon as possible", a joint statement said.

"It certainly won't be us who imposes vetoes", Berlusconi said in a statement, adding that although he would not support this new coalition in parliament, his partnership with the League would still continue at a local level.

"Berlusconi is thinking about it", one source said.

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State Department has said not all political parties have agreed to the elections, limiting the ability of individuals to run. The U.S. also has imposed economic sanctions on Venezuela at a time when it's seeking to refinance a huge global debt.

Forza Italia faces a lose-lose situation.

The anti-establishment party started negotiations with the anti-migrant League on a joint programme to combat European Union austerity rules, fight migration and challenge Russian sanctions. If it pushes for a re-vote, it seems set to lose many of its seats.

Berlusconi's retreat removed a major obstacle to an accord but even so, government talks between 5-Star leader Luigi Maio and the League's Matteo Salvini, will not be simple. The 5-Stars consider Forza Italia part of the establishment politics the movement abhors.

Five Star tried to separately strike coalition deals with the League and the incumbent PD. There is also a risk that another election would produce another political stalemate.

News agency AGI said Di Maio and Salvini were aiming to indicate their choice for prime minister to President Sergio Mattarella by Friday. It seems very unlikely that 5-Star would accept this, but a coalition pact would nearly certainly offer some sort of tax cut pledges while at the same time pushing for a new fiscal regime targeting major internet multinationals. "Let the parties decide of their own free will if they should give full powers to a government... or else new elections in the month of July or the autumn".

Italy traditionally holds its national elections in the spring and the latest it has ever voted was June 26, in 1983.

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