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Former IMF official Carlo Cottarelli nominated as Italian Prime Minister

The Italian President nominated Carlo Cottarelli, a former official at the International Monetary Fund, to form an in...

Posted: May 29, 2018 12:21 PM
Updated: May 29, 2018 12:21 PM

The Italian President nominated Carlo Cottarelli, a former official at the International Monetary Fund, to form an interim government.

President Sergio Mattarella called Cottarelli to the Quirinale, the Italian presidential palace, after previous attempts by Italy's populist parties to form a government failed.

"I am very honored and I will do my best," Cottarelli told journalists outside the Quirinale.

Cottarelli said Mattarella asked him to present a program to Parliament to run Italy until new elections are held early next year.

"If my government wins the confidence vote, there will be new elections at the beginning of 2019 after approving the next budget," Cottarelli said.

However, he will need to win a parliamentary confidence vote, which appears unlikely, meaning snap elections could be held as early as the fall. Forza Italia, the party of former Prime Minister Silvio Berlusconi, said Monday it would not support Cottarelli's appointment.

Berlusconi was recently given the green light by an Italian court to hold political office after having been banned for tax evasion.

Cottarelli confirmed he would not run in any new elections.

Italy's current finance minister, Pier Carlo Padoan, in an exclusive interview with CNN's Richard Quest, defended Cottarelli's appointment.

Padoan laid out the potential dangers of the prospective populist government, with its Eurosceptic finance minister.

"The situation is the combination of a clearly inconsistent program proposed by the coalition in terms of sustainability of public finances," he said, "and the fact that one option in the back of the mind of an influential member of the government could generate an explosive outcome."

Asked whether the snap elections will become a dangerous referendum on the euro, Padoan said, "The Italian electorate is wise enough to understand what's at stake and what's good for them."

Situation escalated Sunday

On Sunday, Mattarella said he would appoint a technocratic, or nonpolitical, Prime Minster after the designated choice declined to form a government.

Giuseppe Conte, a law professor and political novice, was put forward last week by the country's populist parties, which won the most votes in an election in March.

But Mattarella told reporters after a meeting Sunday that he objected to Conte's choice for the economic ministry.

He said Conte's candidate, Paolo Savona, was unacceptable because the appointment would alarm investors and have dangerous consequences for Italy's outstanding government debt.

Mattarella said the country is heading for new elections.

"Nobody can say that I have put obstacles to the so-called government of the change," he said, but, "I need to take care of the savings of the Italian people."

Around half of Italy's debt is held by Italian citizens in the form of pension and savings bonds.

The two largest parties to emerge from the March election, the right-wing League and the anti-establishment Five Star movement, are opposed to the euro.

Novice Conte emerged last week

Five Star leader Luigi Di Maio and Matteo Salvini, the League leader, have been locked in talks with Mattarella since the vote.

During the negotiations, the populists ditched some of their most incendiary campaign vows, such as calling for a referendum on whether Italy should abandon the euro or leave the European Union.

Instead they promised a spending and tax-cutting binge that has rattled investors and could contain the seeds of a new European crisis.

A populist government in Rome could make it more difficult for European Union leaders such as French President Emmanuel Macron and German Chancellor Angela Merkel to push further EU political and economic integration.

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 608519

Reported Deaths: 9693
CountyCasesDeaths
Marion840461335
Lake45349684
Allen32803548
Hamilton29394315
St. Joseph27380381
Elkhart24404345
Vanderburgh19411249
Tippecanoe17970138
Johnson15069295
Porter14783169
Hendricks14401248
Madison10965221
Vigo10726181
Clark10677144
Monroe9383110
Delaware9116134
LaPorte9065163
Howard8236144
Kosciusko806983
Warrick672999
Hancock6697104
Bartholomew6484100
Floyd6428110
Wayne6136162
Grant5991115
Dubois555579
Boone551168
Morgan541295
Henry507864
Marshall503984
Cass483263
Dearborn479845
Noble473059
Jackson425047
Shelby417581
Lawrence391079
Clinton373043
Gibson370359
Harrison348144
DeKalb347164
Montgomery345754
Knox335639
Miami321444
Steuben313745
Whitley307326
Wabash303251
Adams300936
Ripley298445
Putnam296850
Huntington291659
Jasper289034
White273243
Daviess270474
Jefferson263338
Decatur247683
Fayette247148
Greene239862
Posey239328
Wells236051
LaGrange228862
Scott225339
Clay222532
Randolph213548
Jennings198936
Sullivan192333
Spencer191321
Washington186423
Fountain184027
Starke175443
Jay167623
Owen165737
Fulton164030
Orange159534
Carroll158015
Rush155118
Perry154229
Vermillion149134
Franklin148333
Tipton132332
Parke13078
Pike116926
Blackford111022
Pulaski97037
Newton90921
Brown88035
Benton86610
Crawford7999
Martin73713
Warren6817
Switzerland6615
Union6287
Ohio4907
Unassigned0376

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 859841

Reported Deaths: 10680
CountyCasesDeaths
Franklin101171707
Cuyahoga855711125
Hamilton64017448
Montgomery43107418
Summit34836761
Lucas31350625
Butler30973232
Stark25786435
Warren19671140
Lorain19017223
Mahoning17321338
Lake16080154
Clermont15926111
Delaware1438878
Licking13204137
Trumbull12809316
Fairfield1279381
Greene12055137
Medina11591168
Clark10942265
Wood10348158
Allen9897126
Portage9296109
Miami916873
Richland9139118
Marion7459113
Tuscarawas7381182
Columbiana7327124
Pickaway726150
Wayne7034171
Muskingum703141
Erie6152129
Hancock552390
Ross548998
Scioto539164
Geauga508455
Darke470292
Ashtabula453073
Lawrence452654
Union451828
Sandusky436662
Mercer433589
Seneca430166
Huron428741
Auglaize422264
Shelby421222
Jefferson419269
Belmont416840
Washington388740
Athens38009
Putnam374975
Madison355129
Knox352622
Ashland344938
Fulton338443
Defiance330086
Crawford322374
Preble320637
Brown312921
Logan307332
Ottawa293943
Clinton290143
Williams278667
Highland275118
Jackson263845
Guernsey254125
Champaign252028
Fayette236530
Morrow23234
Perry231318
Holmes225474
Henry218749
Hardin213033
Coshocton205622
Van Wert202245
Gallia196726
Wyandot196051
Pike176217
Adams176115
Hocking172024
Carroll155616
Paulding144321
Noble120540
Meigs108624
Monroe100732
Harrison89121
Morgan83130
Vinton70213
Unassigned00
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