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Former IMF official becomes Italy's interim prime minister

Section: Daily Dispatches

Markets Hit as Carlo Cottarelli Named as Italy's New Prime Minister

By James Politi
Financial Times, London
Monday, May 28, 2018

Investors ditched Italian bonds and equities on Monday as Sergio Mattarella, Italy's president, sought to head off political and market tensions by asking Carlo Cottarelli, a former International Monetary Fund official, to run a technocratic government.

The crisis in the eurozone's third-biggest economy escalated after Mr. Mattarella on Sunday frustrated a bid by two populist parties to form a coalition.

Mr. Cottarelli attempted to deliver a soothing message to markets, although he is widely considered unlikely to win a vote of confidence, which would trigger fresh elections by the autumn. ...

... For the remainder of the report:


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