Expectation that M5S and League leaders will put forward Giuseppe Conte triggers financial jitters

Italian financial markets have been in turmoil as the country awaits news about whether an unknown law professor without any political experience will be named as the next prime minister.

The country’s populist parties – the anti-establishment Five Star Movement (M5S), and the anti-migrant League – were expected to announce a joint agreement naming Giuseppe Conte, 53, a lawyer and M5S member, as the next leader of the eurozone’s third largest economy, after Matteo Salvini of the League, and Luigi Di Maio, of the M5S, ruled themselves out.

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