Profile picture
Ferdinando Giugliano @FerdiGiugliano
, 11 tweets, 4 min read Read on Twitter
Mattarella has just spoken. He confirmed the problem was over the appointment of the finance minister. He said he was open to a ‘political appointee’, not to someone who would sleepwalk Italy out of the euro. He concludes that arguing for ‘Ital-exit’ should be done openly. #Italy
+++ The 5 Star Movement is now reportedly considering an impeachment of Italy’s President Sergio Mattarella.
Why the appointment of Italy’s finance minister is so important. My @bopinion take from this week.…
+++ Mattarella has just summoned former IMF official Carlo Cottarelli tomorrow morning, presumably to ask him to form a government. This will be absolutely toxic for the anti-establishment parties. #Italy
Cottarelli was the head of the IMF fiscal affairs department and has since set up a watchdog of Italy’s public finance. Now compare and contrast that with a 5 Star/League government which wanted to increase borrowing by up to €125bn a year. Quite a contrast...
The League and the 5 Star Movement can easily derail any attempt by Cottarelli to form a new government by voting together against his government (they hold a majority). It’s hard to see how Italy will not face elections soon.
Meanwhile, the League and Silvio Berlusconi don’t back the 5 Star Movement’s calls for impeaching Mattarella. What if the past 10 days were just a ploy to try and win an outright majority for the centre-right at the next election? #Italy
(Just a thought: were Italy to hold a new election in the autumn, this would coincide with the last few months of ECB quantitative easing. Not a great prospect for Italy’s sovereign bonds...)
In an important @repubblica interview the League Salvini criticises Berlusconi for sounding like Angela Merkel and praises 5 Star leader Di Maio, says the past few weeks show they can work well together. Is this a prelude of things to come? #Italy
Full link here - (@repubblica)
If the League and 5 Star were to form a coalition, this would turn Italy’s next general election into a de facto referendum on euro membership. Of course, the two parties will deny it and say it is about ‘sovereignty’. #Italy
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Ferdinando Giugliano
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!