New Italian govt vows to create jobs, deport migrants

New Italian govt vows to create jobs, deport migrants

New Italian govt vows to create jobs, deport migrants

Italian President Sergio Mattarella approved the new government Thursday, cementing Five Star Movement leader Luigi Di Maio, a 31-year-old college dropout, as one of the deputy prime ministers who will be a driving force in the government.

Italian media reported that the lineup will face a vote of confidence on Monday or Tuesday in both Houses of Parliament, which it is nearly certain to win thanks to Five Star and the League's combined parliamentary majority.

Financial markets have calmed amid increasing signs that Italy may avoid imminent elections after the president gave two populist parties time to figure out whether they can agree on an alternative to an anti-euro economy minister.

Offering the new government cautious support was Italy's small, far-right neo-fascist CasaPound party, which held its own Republic Day commemoration on Saturday.

Prime Minister Giuseppe Conte, a political novice, and his ministers were sworn in Friday.

The uncertainty rose after President Sergio Mattarella's designation of Cottarelli, a former International Monetary Fund official, to head a politically neutral government failed to calm markets.

Far-right party, the League, was the biggest party in a right-wing coalition which as a bloc captured about 37 percent of seats in Italy's two houses of parliament.

"Without promising any miracles, I can say that, after the first months of this government of change, I would like us to have a country with a little less tax and a little more security, a few more jobs and a few less illegal immigrants", said a gleeful Salvini at a rally after the announcement.

Earlier, Salvini joined Premier Giuseppe Conte and the rest of the newly sworn-in Cabinet to view the Republic Day parade.

I suppose they will be very prudent, there was a very strong tug of war between Mattarella and the proposed economic minister Savona, where they talked about a plan B to leave the Euro.

Juncker said Italy must not suffer the same fate as thrice-bailed out Greece whose dignity was "trodden under foot" by its creditors when left-wing Prime Minister, Alexis Tsipras took office in 2015.

Tensions have also risen between the two parties and the President, peaking as Di Maio called for Mattarella's impeachment earlier this week following his rejection of Conte's choice of finance minister.

The breakthrough came after anti-establishment political leaders Matteo Salvini and Luigi Di Maio agreed a deal for a new proposed coalition. Salvini has campaigned on the promise of mass deportations of migrants, and has said that a new government would build new detention centres around the world. The sentiment regarding this decision, similarly to events regarding then-Prime Minister Mario Monti in 2011, is that it is an EU-engineered plot. "And the most extreme case of that, of course, is the United Kingdom and the decision to leave the European Union altogether", Walker said.

However, investors revolted, sending Italian stocks plummeting and increasing the cost of borrowing to cover Italy's stubbornly high sovereign debt.

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