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Italy’s President, Sergio Mattarella, is said to ask a former International Monetary Fund (IMF) director of Fiscal affairs Carlo Cottarelli  on Monday to head a stopgap government, with early elections looking inevitable.

Key Highlights (via Reuters):

“Cottarelli would be a calming choice for the financial markets, but any technocratic administration would likely only be a short-term solution because the majority of parliamentarians have said they would not support such a government.

If, as expected, he fails to win parliamentary backing, Cottarelli would simply ferry Italy to elections that would most likely be held in September or October.”