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According to Danske Bank analysts, markets will get a bit more clarity today on where the Italian government crisis is heading, as PM Conte is due to face a confidence vote in the Senate this afternoon.

Key Quotes

“Should Conte fail the vote, the initiative reverts to President Mattarella, who could either call for snap elections or try to broker a new cross-party alliance between Five Star and Renzi’s PD to avoid interference with the 2020 budgeting season. Either way, political uncertainty in Italy will remain elevated for the time being.”