Monday, May 28, 2018

Powers That Be stick it to Italian populist movement by inserting banker technocrat as Prime Minister

So much for fair elections and the will of the people in Italy.

Following the formation of a coalition government which was led by two anti-EU and anti-Euro political parties, the entire new government was scuttled over the weekend when President Sergio Mattarella disbanded it just weeks after its formation and inserted a former IMF banker as interim Prime Minister.

Italian President Sergio Mattarella has appointed IMF official Carlo Cottarelli as the interim prime minister tasked with forming a new government. 
The PM said elections will be held no later than August unless he wins the confidence of parliament. 
President Mattarella announced his choice Monday, having diluted the deal between two Eurosceptic parties who had collective majority in the March elections and had since dedicated themselves to forming a new government. 
The newly-appointed PM Cottarelli vowed to establish a new government "very quickly" to take the country through this period before fresh elections are held in the fall of 2018 or early next year. "I'll present myself to parliament with a program which – if it wins the backing of parliament – would include the approval of the 2019 budget. Then parliament would be dissolved with elections at the beginning of 2019," Cottarelli said shortly after being named interim prime minister. 
Following the rejection of Paolo Savona’s candidacy for minister of economy, ex PM-designate Conte said he had given up on attempts to form a government, leaving open the possibility the country would face new elections. Furious with Mattarella for sabotaging their deal over the choice for economy minister, the eurosceptic coalition slammed the country’s establishment for jeopardising democracy. - Russia Today
Cottarelli's insertion as Prime Minister brings full circle what occurred in the early years following the Financial Crisis which saw the appointments of two unelected bureaucrats in both Greece and Italy.  And the Italian people well remember being ruled by Mario Monti for a time the same way Greece was administered by former banker Lucas Papedemos. 


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