Italy's Fanciful Coalition Draft Draws Investors' Incredulity-For Now

ForexLive Americas FX news wrap: USD/JPY climb continues

Earlier, the leaders of the anti-immigrant League party and the anti-establishment Five Star movement agreed to meet the Italian President to share details of a government programme for the eurozone's third largest economy, thrashed out over the weekend.

5-Star's parliamentary party leader Danilo Toninelli told state television Rai: "The only way to get a serious government is to return to the polls".

The two parties, which together could control both houses of parliament, are locked in coalition talks two months after an inconclusive general election on March 4.

The far-right leader of the Lega, Matteo Salvini, and the leader of the anti-establishment 5-Star Movement (M5S), Luigi Di Maio, talked about European Union "interference" on Tuesday.

The League has pledged to introduce a flat tax rate of 15 percent, which would lower tax revenues by some 80 billion euros ($95 billion) per year, according to some estimates, while 5-Star has pledged new welfare payments for the poor at 17 billion euros.

European Union leaders meeting in Sofia on Wednesday are likely to be concerned by the rhetoric of the parties, which could form a new Italian government as early as next week.

The two anti-system parties have completed the joint policy programme for a coalition government and have passed the document to leaders for their approval.

One Dead In Aliso Viejo Explosion
Since the beginning of March in the capital of Texas the city of Austin has occurred four cases of explosions of bombs in parcels. Authorities say one person is dead and two others have injuries after an explosion rocked a Southern California office building.

Brooklyn Nine-Nine saved by NBC
Fans will be able to watch the sixth season on the streaming service next fall, assuming that's when the new season premieres. In between the new shows and the shrimp this week, TV networks will also be pushing their efforts to reduce commercial loads.

California reaches all-time high in sexually transmitted diseases
Young women made up the majority of chlamydia cases; men accounted for the majority of syphilis and gonorrhea cases. Gonorrhea cases saw a 16 percent increase in the same time frame but affected twice as many men than women.

"This is the time to have the courage to go all the way", he said, promising measures including tougher penalties for tax evaders and cuts to the so-called "golden pensions" enjoyed by wealthy former politicians and business executives. Neither Mr Di Maio nor Mr Salvini want the job of prime minister.

Italy already has an enormous debt worth more than 130 percent of annual output, second only to Greece in the EU. This would lower Italy's public debt, now at 130% of national output. "We can not go to Brussels with positions that are far apart", he said.

Another commissioner, Dimitris Avramopoulos, was also quoted on Tuesday as weighing in on Italian politics, saying he hoped the new government maintained current immigration policies.

Salvini, saying he was "optimistic but realistic" about a deal, took rhetorical aim via social media at European Union migration commissioner Dimitris Avramopoulos.

Mr Di Maio also targeted the UK's Financial Times for a story headlined "Rome opens its gates to the modern barbarians".

5-Star has adopted a softer line on migration and Salvini said on Monday this was another area of discord between the two sides. The policy program will probably be published Thursday, 5-Star said. If they fail to do so, fresh elections look inevitable.

Related news:

Hot News

isis-killer-beheading-video-story-top President Trump to Meet with California Officials About Sanctuary Policies
May 17, 2018 - 05:00
Trump has previously referred to unauthorized immigrants involved in gang activities as " animals ". California's Governor, Jerry Brown, was quick to repudiate the meeting on social media.

isis-killer-beheading-video-story-top Senate narrowly passes net neutrality CRA, sending fight to the House
May 17, 2018 - 05:00
The United States Senate has just voted to restore net neutrality regulations , which the FCC voted in December to eliminate . Democrats in the Senate could prevail in a vote as they have at least 50 votes with all of their party on board, plus Sen.

isis-killer-beheading-video-story-top Exploding Vape Pen Killed Florida Man, Autopsy Report Says
May 17, 2018 - 04:59
The owner of Lizard Juice, an e-cigarette retailer in Florida , said he does not think such vaping pens are "safe enough". Some e-cigarettes have built-in batteries while others have swappable batteries which are charged on an external unit.

isis-killer-beheading-video-story-top OnePlus 6 Announced: Here's Where You Can Buy It
May 17, 2018 - 04:59
While the OnePlus 6 has a larger, 6.3-inch display , it would practically have the same footprint of the previous OnePlus model. Thankfully for those who love their wired audio, OnePlus has made a decision to stick with a real audio-out jack on its OP6.

isis-killer-beheading-video-story-top Mo Salah Does Not Come Close To Ronaldo And Messi - Kwadwo Asamoah
May 16, 2018 - 11:48
He added that "it is OK that he went the way he did, he won an important title here, he won the Champions League , won the Spanish league".

isis-killer-beheading-video-story-top Taliban Clashing With Afghan Forces in Western Farah Province
May 16, 2018 - 11:46
More than 300 Taliban fighters have been killed in the battle for Farah, provincial Governor Abdul Basir Salangi said on May 16. But Salangi says that the security forces will continue their operations to destroy the insurgents in the province.

isis-killer-beheading-video-story-top USA vows to make North Korea rich if it gives up nukes
May 16, 2018 - 11:45
Moon Jae-in, the president of South Korea , is pledging to boost cultural exchanges with his country's neighbors to the north. Mr Pompeo said the goal of talks with North Korea is complete and verifiable denuclearisation of the Korean Peninsula.

isis-killer-beheading-video-story-top Stardew Valley is Coming to the PlayStation Vita
May 16, 2018 - 11:44
This is great news for gamers on the go who either already own the game on console or own both systems. They've now made it even clearer: they're going to stop making PlayStation Vita carts .

isis-killer-beheading-video-story-top Experimental vaccine approved for use 'against' Ebola virus in Congo
May 16, 2018 - 11:38
Bikoro's airstrip can not yet accommodate even small aircraft, so the initial response will rely on United Nations helicopters. From April 4 through May 13, 2018, a total of 39 cases have been reported , including three healthcare workers and 19 deaths.

isis-killer-beheading-video-story-top Mississippi Poor People's campaign first in national effort
May 16, 2018 - 11:38
The rallies planned by current organizers will address today's major social and economic problems in a series of weekly themes. The "Connecticut Poor People's Campaign " was one of 30 protests happening at state capitols around the country.

isis-killer-beheading-video-story-top "Yanny" or "Laurel", this audio clip is tearing the internet apart
May 16, 2018 - 11:34
But just about everyone is pointing to this Reddit post from Roland Camry as the original source of the Laurel-Yanny conundrum. Finally, everyone's hearing is different, and environment can have a lot to do with how you perceive sound.

isis-killer-beheading-video-story-top Scott Arfield joins Rangers as Steven Gerrard's first signing
May 16, 2018 - 11:34
When asked about his memories of facing Gerrard, he said: "Getting beat, getting overrun, and I remember coming off the pitch thinking I'm not as good as I first thought".

isis-killer-beheading-video-story-top Kylie Jenner's bodyguard responds to claims that he's Stormi's real father
May 16, 2018 - 11:29
These glowing tributes come without any mention of new momma Khloé, who just gave birth to daughter True Thompson last month.

isis-killer-beheading-video-story-top US judge greenlights Paul Manafort case to go forward
May 16, 2018 - 11:28
Manafort had argued that Mueller had exceeded his authority because the case was unrelated to Russian election interference. So the charges in Jackson's courtroom will proceed against Manafort, and they will be prosecuted by Robert Mueller .

isis-killer-beheading-video-story-top Turkey Tells Israeli Ambassador to Leave over Gaza Killings
May 16, 2018 - 11:25
History will not forgive you. "From the side of the federation, it was made clear to them that it was an unfortunate action. Turkey has expelled Israel's ambassador and recalled its ambassadors from Tel Aviv and Washington.