Giuseppe Conte has been designated as Italy's next prime minister and is expected to be sworn in on Friday, after the populist Five Star Movement and anti-immigrant League party reached a deal to form a coalition government. Italian President Sergio Mattarella asked Conte to form a new government on Thursday evening. Earlier on Thursday, anti-establishment political leaders Matteo Salvini and Luigi Di Maio reached a deal to resurrect their proposed coalition, averting the prospect of a new snap election which had rattled global markets. "All the conditions have been fulfilled for a political, Five Star and League government," party chief Di Maio and far-right League leader Salvini said in a joint statement after several hours of talks in central Rome. Conte, a 53-year-old law professor, was originally given his mandate by Mattarella last week, 80 days after Italy held inconclusive elections.
A very unusual coalition government has come to power in Italy. Leaders of the anti-establishment Five Star Movement and the right-wing, anti-immigration League party have been sworn into office. They want to revive Italy's sluggish economy by rejecting austerity and increasing spending. The European Union is worried by the proposals and Italy's large debt. So what will the government, led by law professor Giuseppe Conte, mean for Italy and the rest of Europe?