The financial markets will not dictate how Italians vote and Italy will pursue its pro-EU path, European Commission chief Jean-Claude Juncker said Tuesday. Juncker denied controversial remarks attributed to his budget commissioner Guenther Oettinger, who reportedly suggested the financial markets will tell Italians how to vote in a political crisis.
"Italy's fate does not lie in the hands of the financial markets," Juncker said. Italy faces political chaos after two populist parties failed to form a government. "Regardless of which political party may be in power, Italy is a founding member of the European Union that has contributed immensely to European integration," Juncker said in a statement.
Juncker said "he is convinced that Italy will continue on its European path." He added that the European Commission, the 28-nation EU's executive arm, "is ready to work with Italy with responsibility and mutual respect." Italy's caretaker prime minister was working to assemble a cabinet on Tuesday to save the country from political turmoil in the face of resistance from far-right and anti-establishment parties. Financial markets plunged into a frenzy as Carlo Cottarelli was left in charge after efforts to end months of political deadlock hit their latest setback.
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