ANL 33.05 Decreased By ▼ -1.75 (-5.03%)
ASC 14.25 Decreased By ▼ -0.20 (-1.38%)
ASL 23.10 Decreased By ▼ -0.20 (-0.86%)
AVN 84.44 Decreased By ▼ -5.66 (-6.28%)
BOP 8.92 Decreased By ▼ -0.06 (-0.67%)
BYCO 8.94 Decreased By ▼ -0.51 (-5.4%)
DGKC 117.65 Decreased By ▼ -9.50 (-7.47%)
EPCL 47.21 Decreased By ▼ -0.09 (-0.19%)
FCCL 22.70 Decreased By ▼ -1.19 (-4.98%)
FFBL 25.51 Increased By ▲ 0.42 (1.67%)
FFL 14.30 Decreased By ▼ -0.50 (-3.38%)
HASCOL 9.97 Decreased By ▼ -0.42 (-4.04%)
HUBC 83.00 Decreased By ▼ -0.80 (-0.95%)
HUMNL 6.44 Decreased By ▼ -0.21 (-3.16%)
JSCL 23.53 Decreased By ▼ -1.62 (-6.44%)
KAPCO 40.75 Increased By ▲ 0.49 (1.22%)
KEL 3.89 Decreased By ▼ -0.04 (-1.02%)
LOTCHEM 14.00 Decreased By ▼ -0.10 (-0.71%)
MLCF 43.12 Decreased By ▼ -0.88 (-2%)
PAEL 33.60 Decreased By ▼ -1.30 (-3.72%)
PIBTL 10.86 Decreased By ▼ -0.39 (-3.47%)
POWER 9.15 Decreased By ▼ -0.63 (-6.44%)
PPL 87.90 Decreased By ▼ -2.10 (-2.33%)
PRL 24.30 Decreased By ▼ -1.42 (-5.52%)
PTC 8.35 Decreased By ▼ -0.25 (-2.91%)
SILK 1.22 Decreased By ▼ -0.07 (-5.43%)
SNGP 38.62 Decreased By ▼ -1.25 (-3.14%)
TRG 137.50 Decreased By ▼ -5.50 (-3.85%)
UNITY 28.70 Decreased By ▼ -2.03 (-6.61%)
WTL 1.28 Decreased By ▼ -0.09 (-6.57%)
BR100 4,746 Decreased By ▼ -90.18 (-1.86%)
BR30 24,284 Decreased By ▼ -689.33 (-2.76%)
KSE100 44,247 Decreased By ▼ -804.04 (-1.78%)
KSE30 18,591 Decreased By ▼ -280.07 (-1.48%)
World

Italy's president opens government talks after PM quits

  • The head of state is set to meet the presidents of both parliamentary chambers before talks on Thursday and Friday with party leaders.
27 Jan 2021

ROME: Italy's president will begin discussions with political leaders Wednesday on forming a new government following the resignation of Prime Minister Giuseppe Conte.

Conte stepped down on Tuesday after divisions in the ruling coalition left him without a parliamentary majority but is hoping to return at the head of a strengthened government.

President Sergio Mattarella, the ultimate arbiter of Italian politics, asked Conte to stay on while he establishes if this is viable -- or if someone else should take over.

The head of state is set to meet the presidents of both parliamentary chambers before talks on Thursday and Friday with party leaders.

The turmoil comes at a crucial time for Italy, as it seeks to draft a 220-billion-euro ($267 billion) spending plan for European Union funds intended to help the country recover from the coronavirus crisis.

The pandemic has hit Italy hard, plunging the eurozone's third largest economy into deep recession and leaving more than 86,000 people dead.

The current ruling parties, including the populist Five Star Movement (M5S) and the centre-left Democratic Party (PD), are hoping to stay in office and avoid snap elections.

Opinion polls suggest that the opposition coalition, which includes Silvio Berlusconi's Forza Italia and Matteo Salvini's far-right League, would win power.

But forming a new government would mean working again with former premier Matteo Renzi's Italia Viva party, which sparked the current crisis by leaving the coalition in a row over the handling of the pandemic.

Conte, who cancelled a scheduled speech to the World Economic Forum Wednesday, said after his resignation that Italy required "a clear perspective and a government with a larger and safer majority".

"My resignation serves this possibility: the formation of a new government that can offer a prospect of national salvation," he wrote on Facebook on Tuesday.

However, he acknowledged that he himself -- a former law professor plucked from obscurity to lead a previous M5S-led government after the 2018 elections -- may not necessarily be at the helm.

"The only thing that really matters, regardless of who will be called to lead Italy, is that the Republic can raise its head again," he wrote.