Italy’s populist government takes office after months of turmoil

Excerpt:

Italy’s new anti-establishment government took power on Friday, ending months of deadlock that saw the eurozone’s third largest economy narrowly avoid snap elections after a last-gasp coalition deal.

New Prime Minister Giuseppe Conte, 53, was sworn in at the head of the first populist government in an EU founding member that was forged by the Five Star Movement and the far-right League.

“The new right is in power,” declared left-leaning daily La Repubblica.

The handover of power follows an inconclusive March election and months of political turmoil which had spooked global financial markets and spread unease among Italy’s EU partners.

Reaction to the new government was wary, with concerns still running high about Italy’s massive debt mountain and the future of the EU and its single currency.

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