Could Italy’s Populists For a Coalition?

Italy’s two populist parties have shown they can find common ground in the first test of a possible political alliance, but experts believe a coalition government formed of Lega (League) and the Five Star Movement (M5S) would ultimately have a “short shelf life.”The two parties’ leaders managed to come together Friday to reach a deal to elect the speakers of both the upper (the Senate) and lower houses (the Chamber of Deputies) of parliament.Luigi Di Maio, the anti-establishment M5S party leader, put forward Roberto Fico to be elected as speaker of the lower house. And in return for its support for Fico, the center-right coalition led by Lega (the biggest party in the alliance), former Prime Minister Silvio Berlusconi’s Forza Italia and Fratelli d’Italia (and the smaller Noi con L’Italia) got their choice of Maria Elisabetta Alberti Casellati – a member of Forza Italia and confidante of Berlusconi – elected as Senate speaker.

Source: Italy’s populist parties could form a government that leaves Berlusconi out in the cold – CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam