AGL 38.02 Increased By ▲ 0.08 (0.21%)
AIRLINK 197.36 Increased By ▲ 3.45 (1.78%)
BOP 9.54 Increased By ▲ 0.22 (2.36%)
CNERGY 5.91 Increased By ▲ 0.07 (1.2%)
DCL 8.82 Increased By ▲ 0.14 (1.61%)
DFML 35.74 Decreased By ▼ -0.72 (-1.97%)
DGKC 96.86 Increased By ▲ 4.32 (4.67%)
FCCL 35.25 Increased By ▲ 1.28 (3.77%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 13.17 Increased By ▲ 0.42 (3.29%)
HUBC 127.55 Increased By ▲ 6.94 (5.75%)
HUMNL 13.50 Decreased By ▼ -0.10 (-0.74%)
KEL 5.32 Increased By ▲ 0.10 (1.92%)
KOSM 7.00 Increased By ▲ 0.48 (7.36%)
MLCF 44.70 Increased By ▲ 2.59 (6.15%)
NBP 61.42 Increased By ▲ 1.61 (2.69%)
OGDC 214.67 Increased By ▲ 3.50 (1.66%)
PAEL 38.79 Increased By ▲ 1.21 (3.22%)
PIBTL 8.25 Increased By ▲ 0.18 (2.23%)
PPL 193.08 Increased By ▲ 2.76 (1.45%)
PRL 38.66 Increased By ▲ 0.49 (1.28%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 103.60 Increased By ▲ 5.66 (5.78%)
TELE 8.30 Increased By ▲ 0.08 (0.97%)
TOMCL 35.00 Decreased By ▼ -0.03 (-0.09%)
TPLP 13.30 Decreased By ▼ -0.25 (-1.85%)
TREET 22.16 Decreased By ▼ -0.57 (-2.51%)
TRG 55.59 Increased By ▲ 2.72 (5.14%)
UNITY 32.97 Increased By ▲ 0.01 (0.03%)
WTL 1.60 Increased By ▲ 0.08 (5.26%)
BR100 11,727 Increased By 342.7 (3.01%)
BR30 36,377 Increased By 1165.1 (3.31%)
KSE100 109,513 Increased By 3238.2 (3.05%)
KSE30 34,513 Increased By 1160.1 (3.48%)

Italian Prime Minister Giuseppe Conte said Tuesday he would resign, lashing out at far-right Interior Minister Matteo Salvini for pursuing his own interests by pulling the plug on the government coalition. The move leaves the eurozone's third largest economy in a political vacuum until President Sergio Mattarella decides whether to form a new coalition or call an election after talks with parties in the coming days.
"I'm ending this government experience here... I will go to the president of the republic to inform him of my resignation," Conte said after an almost hour-long speech to the Senate. "It is irresponsible to initiate a government crisis," Conte said after Salvini began his efforts to bring down the government in the hope of snap elections he believes will make him premier.
Conte was speaking following a week of fallout from Salvini's decision to back out of the alliance between his League party and the anti-establishment Five Star Movement on August 8, plunging Italy into political turmoil. After Conte announced his intention to resign, Senate speaker Elisabette Casellati told Salvini to leave the government bench and join his party's senators, where Salvini said: "Thank you, finally, I would do it all again."
"The Italians vote with their heads and hearts," Salvini said, invoking the Virgin Mary to "protect the Italian people" and repeating his call for snap elections while also making a final appeal to M5S. Caught on the back foot, Salvini last week made the surprise offer to back a key M5S proposal to cut the number of lawmakers from 950 to 605, but only if new elections were then swiftly held.
"Making citizens vote is the essence of democracy, asking them to vote every year is irresponsible," Conte said as League senators booed and hissed. "I heard you calling for 'full powers' and invoke (demonstrations in) the piazzas to support you, which worries me," Conte said. Italian dictator Benito Mussolini in 1922 assumed so-called full powers to govern the country at his whim.
After more than four hours of debate, Conte returned to speak before heading for Mattarella's office at the Quirinale Palace. "If there was a lack of courage, then I assume responsibility before the country," Conte told the Senate as Salvini fidgeted nervously. "And I note that the leader of the League who has struggled with loyal cooperation lacked the courage to assume responsibility for his behaviour," Conte said.
The end of the 14-month-old coalition government opens the way for Mattarella to begin consultations with political parties, with a range of options available. A snap election, the forming of a new coalition without holding a new vote, and, although unlikely, the continuation of the current government would all be considered. The political crisis has raised concerns about the Italian economy, whose debt ratio at 132 percent of gross domestic product is the second-biggest in the eurozone after Greece.
Since the unwieldy government was formed in June 2018, uncertainty under the coalition has cost the country an extra five billion euros ($5.54 billion) in interest on its debt. Salvini's plan for a snap election - more than three years early - had envisioned a vote in October followed by him being crowned as prime minister.
According to opinion polls, the League could form a coalition with the anti-immigration, anti-LGBT Brothers of Italy, and possibly Silvio Berlusconi's centre-right Forza Italia. But a bid by his rivals to put aside their differences and forge an alliance could derail Salvini's plan, with a coalition between M5S and the opposition centre-left Democratic Party (PD) being discussed. While there is bad blood between the two parties, M5S is languishing in the polls and wants to avoid an early election.
Former PD premier Matteo Renzi on Tuesday said that he "would not be part" of a PD-M5S alliance, as many in the anti-establishment party resent him as part of the old elite. According to some analysts, Conte could also stay on as premier while trying to form an alliance with PD.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.