In Italy, there were rumors that the 5-Star Movement, one of the anti-establishment coalition party, threatened to oust Economy Minister Giovanni Tria if he didn’t allow EUR 10B of funding in 2019 budget for its flagship campaign. But the news was denied by 5-Star Movement. The party said in a statement “that 5-Star is putting pressure on minister Tria is unfounded, as is any reference to (requesting) his possible resignation.”
Recent comments from Tria, and leaders of both the 5-Star Movement and the League suggested that they will stick to fiscal discipline for now. That helped stabilize Italian bond markets and eased some pressure on the Euro. The more progressive measures were promised to be rolled out gradually over the next few years. Separately, Massimo Bitonci, an undersecretary at the economy ministry and a member of the League, said in a newspaper interview at the weekend that both parties would have EUR 5B each to implement their campaign promises in the 2019 budget.
