The 2018 elections in Italy can officially be regarded as one of the most important political deadlocks the country has ever been in, and the entire situation has seeped out to affect the entirety of the European Union as well. President Sergio Mattarella’s decision to veto 81-year old Paolo Savona as finance minister and appoint Carlo Cottarelli as Prime Minister-designate so as to not let an Eurosceptic come to power can be traced directly back to the start of the political deadlock.
The two main anti-establishment parties in Italy have outright refused to form a coalition government unless Savona were to be appointed as finance minister, which is something President Mattarella is extremely unwilling to do. This political deadlock has resulted in the extreme downfall of Italy’s economy after the yields in Italian 2-year bonds had risen to its highest position since 1992, denting Euro’s exchange rate in the country. The Five Star Movement and the League are the two left and right wing political parties which have refused to come to an agreement as long as Cottarelli and Mattarella remain in some form of unnerving alliance to prevent Paolo Savona from rising to power.
The President and Prime Minister-designate, however, have decided to maintain the current situation and not rush things out until there’s a possibility of holding a fresh election to form a government by the end of the year. Both M5S and League sources have shown disapproval of living within this deadlock as it is harming more countries than it is benefiting. As a result, Mattei Salvini, leader of the League has urged the President to hold a snap election for Italy, and get their way out of the confusing quagmire as soon as possible.