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.

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Craig Erlam

Craig Erlam

Former 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.