Published: Thu, May 17, 2018
Global | By Marsha Munoz

Italy's League chief sees government program completed Wednesday

Italy's League chief sees government program completed Wednesday

"There is no time to lose, there is no space for technocrat government", League leader Matteo Salvini said in a statement.

More than ten weeks after Italy's inconclusive election on March 4, the two politicians are still trying to broker an agreement after repeatedly blowing through deadlines set by President Sergio Mattarella.

"We have made a lot of good progress. we should finish the program today", Salvini said during a live video stream on Facebook.

There was still no word on the thorny issue of who would be premier - a job that Di Maio and Salvini both covet.

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This will now be something to watch as populism is back on the agenda for markets where the coalition has radical ideas to free up billions of euros for tax cuts and welfare.

The debt wipe would cut 10 percent off Italy's debt/GDP ratio but the European Union will be concerned this sends a negative message to other Eurozone countries still in the middle of tough austerity measures.

The parties are still trying to find the right balance between their two policy platforms, Salvini added.

Di Maio told reporters in parliament "the recipe to lower public debt is by investments and expansionary policies".

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Brussels has called on the next Italian government, which is likely to be formed by Eurosceptic parties, to remain on the "European path" and not tear up the EU's strategy for controlling migration.

Both M5S and League have a deep history of Euroscepticism and while 5-Star has moderated its position considerably in the a year ago, rowing back on a previous plan to hold a referendum on Italy's membership of the currency bloc, the League still wants to leave the Eurozone as soon as is politically feasible. 5-Star has moderated its position considerably in the past year, rowing back on a previous plan to hold a referendum on Italy's membership of the currency bloc.

He also said the only alternative to a deal was another election. The policy program will probably be published Thursday, 5-Star said.

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