Egypt jumps to 9th in global FDI rankings as Africa sees rebound    Egypt's commodity reserves "very reassuring", some stocks sufficient for 9 months — trade chief    Egypt's FM, UK security adviser discuss de-escalation    EIB supports French defence SMEs with €300m loan    US Fed holds rates steady    Waste management reform expands with private sector involvement: Environment Minister    Mideast infrastructure hit by advanced, 2-year cyber-espionage attack: Fortinet    SCZONE signs $18m agreement with Turkish Ulusoy to establish yarn factory in West Qantara    Egypt PM warns of higher oil prices from regional war after 1st Crisis Committee meeting    Egypt's Foreign Minister discusses Mideast de-escalation with China FM, EU Parliament President    Egypt's PM urges halt to Israeli military operations    UN Palestine peace conference suspended amid regional escalation    Egypt advances integrated waste management city in 10th of Ramadan with World Bank support    Egypt, Japan's JICA plan school expansion – Cabinet    Egypt's EDA, AstraZeneca discuss local manufacturing    Egypt issues nearly 20 million digital treatment approvals as health insurance digitalisation accelerates    Egypt's EHA, Schneider Electric sign MoU on sustainable infrastructure    Sisi launches new support initiative for families of war, terrorism victims    Egypt nuclear authority: No radiation rise amid regional unrest    Grand Egyptian Museum opening delayed to Q4    Egypt delays Grand Museum opening to Q4 amid regional tensions    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Italian PM-designate Conte taking his time to assemble cabinet
Published in The Egyptian Gazette on 24 - 05 - 2018

ROME, May 24, 2018 (News Wires) - Italian Prime Minister-designate Giuseppe Conte began putting together his cabinet team on Thursday, with party leaders pushing for an 81-year eurosceptic economist to be given the pivotal post of economy minister.
Conte, a law professor without political experience, is meeting all the groups in parliament to discuss his plans, and is unlikely to give the head of state his list of ministers before Friday evening, the 5-Star Movement said.
Plucked from obscurity by the anti-establishment party as the right man to head its coalition with the far-right League, Conte was given the mandate to form a government on Wednesday by President Sergio Mattarella.
League leader Matteo Salvini is expected to take over the interior ministry to pursue his promised crackdown on illegal immigration, while 5-Star chief Luigi Di Maio wants the labour ministry to enact his pledge to improve welfare for the poor.
Like the prime minister, neither Salvini nor Di Maio have any experience of government.
However, the economy ministry is proving most problematic - a potential clash looms between the League and Mattarella, who has the final say on ministerial appointments.
Salvini is lobbying for Paolo Savona, who has decades of experience in academia, banking and government but has spooked markets with his eurosceptic views that chime with the League's.
Di Maio endorsed the choice on Thursday, saying he and Salvini were seeking "the best people to bring change to this country, and Savona is certainly among these."
Savona has called Italy's adoption of the European single currency a "historic error" and calls for a "plan B" to be drawn up to let it leave the euro zone with as little damage as possible should this prove necessary.
Mattarella, who stresses that Italy must meet its European commitments, has let it be known through his aides that he does not want Savona.
Yet Salvini shows no sign of backing down, creating a headache for Conte and potentially undermining the delicate equilibrium of the coalition before it even gets going.
Former prime minister Silvio Berlusconi, an ally of Salvini before the election, said on Thursday his Forza Italia party would vote against the new government in parliament, calling its program "a naive book of dreams".
Forza Italia's votes are not necessary for the 5-Star/League coalition to obtain a majority.
The nascent government has the backing of most Italians, with an opinion poll by the Demopolis agency on Wednesday showing 61 percent were in favor and 39 percent against.
Savona's appointment would probably alarm EU heavyweight Germany, in particular. He warns in his latest book that the Germans are now trying to dominate Europe economically, having failed to achieve the goal militarily in World War II.
"Savona's positions are radically and suicidally anti-German," former Italian economy minister Vincenzo Visco said in an interview in the daily Corriere della Sera on Thursday.
Italian markets, which sold off this week on the prospect of an inexperienced, eurosceptic government taking over the euro zone's third largest economy, recovered on Thursday morning. Italy's main share index was up 0.4 percent and the gap between the yield on Italian benchmark bonds and their safer German equivalent narrowed to 184 basis points from 190 on Wednesday.


Clic here to read the story from its source.