5-Star Movement leader Luigi Di Maio is surrounded by journalists as arrives at the Lower House, in Rome, Italy, 31 May 2018. (Massimo Percossi/ANSA via AP)
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Euroskeptic politicians cheered and Milan's stock index rose Friday after Italy's populists staved off the threat of a new election and formed western Europe's first populist government with a last-minute compromise.Milan's stock index was trading up 2.6 percent and Italy's borrowing rates eased further after having soared earlier in the week when it appeared that Italy was heading into a new election that could have turned into a referendum on Europe's shared euro currency.European Commission President Jean-Claude Juncker told a conference Thursday that he loved Italy, but refused to accept the frequent pass-the-buck blame by Italian politicians that Italy's ills are the fault of the EU.Italy's inconclusive parliamentary election in March produced months of political stalemate before Mattarella asked Conte, a political novice tapped by the 5-Stars and League, to try to form a government.The bid failed after Mattarella last Sunday vetoed the proposed economy minister, Paolo Savona, who had expressed doubts about whether Italy should stay in the eurozone. Mattarella then tapped a former IMF official to head a possible interim government of technocrats to see Italy through to an early election.
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