M5S and Lega Lay Out Coalition Plans For Italy

The power-sharing agreement between Italy’s two populist parties is likely to raise concerns for officials at the European Union.The left-wing Five Star Movement (M5S) and the far-right Lega are on the brink of clinching power in the southern European nation, forming a coalition after neither party gained enough seats to govern alone at March elections. They released their plans for the next executive Friday morning which would potentially end more than two months of political instability in the third largest euro zone economy. The plan will be voted on by their members over the weekend and, if approved, could bring further problems for the EU.Their plan aims for a “necessary” re-discussion over European treaties, a “reduction” of the powers coming from Brussels, and a return to a pre-Maastricht setting.

Source: Italy’s incoming government wants to lift Russia sanctions and rewrite EU rules – CNBC

DAX Shrugs off Weak German Inflation Numbers

EUR/USD – Sluggish Euro Drops Below 1.18

Italian politics to decide markets fate

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

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