Italy: Renzi, leader of the Viva party, withdraws from the governing coalition

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The leader of the Italian party Viva, Matteo Renzi, has announced that he would withdraw his cabinet ministers from the government, essentially completing his retirement from the ruling coalition.Reuters reports citing a press conference. Renzi has had Strong disagreements with Italian Prime Minister Guiseppe Conte on how the country’s allocation of European recovery funds would be spent.

According to UniCredit, these are the next steps: “(Italian Prime Minister Conte) could decide to check whether your government (after a cabinet shakeup) has the support of a parliamentary majority in a vote of confidence in parliament, or immediately resign. In the event of Mr. Conte’s resignation, the next steps would be for President Mattarella to open a round of consultations with all political parties to verify the existence of a majority in support of a new government. Such a new government would likely be supported by a majority similar to the current ruling coalition, with The Five Star Movement and the Democratic Party as the main parties. While these steps will increase political uncertainty, the probability of an early election remains low., in our opinion”.

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