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A deal between Italy's 5-Star, Democratic Party looks less likely - Reuters

Aug. 22, 2019 4:02 PM ETiShares MSCI Italy ETF (EWI)EWIBy: Liz Kiesche, SA News Editor
  • Italy's center-left Democratic Party set tough new conditions on forming a coalition with anti-establishment 5-Star Movement, making a deal between the traditional rivals less likely and increasing the chance of snap elections, Reuters reports.
  • Earlier this week, Prime Minister Giuseppe Conte resigned after the leader of the right-wing League party, Matteo Salvini, declared the ruling coalition with 5-Star dead.
  • Meanwhile, Italian President Sergio Mattarella, who consulted with the main parties in parliament today, told them he wants a deal within the next few days if they want to avoid snap elections, a source close to the matter told Reuters.
  • Salvini called for elections, hoping to return to power as prime minister on his surging popularity. Mattarella, though, will only dissolve parliament if no coalition can be formed.
  • iShares MSCI Italy Capped ETF (NYSEARCA:EWI), which was up 0.2% minutes before today's close, was little changed at $26.27 by the close.

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