ITALY BREAKING:  NEW FIVE STAR-LEAGUE GOVERNMENT EMERGES AFTER TALKS, SWEARING IN TOMORROW

The Italian President Sergio Mattarella has done an about face and given Giuseppe Conte the mandate to form a new government of the outsider parties.

Conte has presented a list of ministers for the new government.

Mattarella had balked at the idea of Euroskeptic Paolo Savona as finance minister, but Savona will now be minister of EU affairs.

The Five Star leader Luigi Di Maio will be industry-labor minister and League leader Matteo Salvini will be interior minister dealing with illegal immigration.   The new government has set a goal of 500-thousand deportations  (NOTE:  One report from Italy's ANSA news agency I have read says Salvini vows 600-thousand deportations.

A swearing in ceremony is set for 4pm tomorrow in Italy, 10am Eastern time.

New talks began within the last day or two to bring the two outsider parties together with the Italian president to find agreeement on a new government.

The new government was denounced by the interim leader of the Uniparty "Left" in Italy.  Democratic Party (PD) politician Maurizio Martyina is quoted by the ANSA news agency calling it "rightwing, populist and dangerous".

The  US State Department  told the Italian news agency "the Trump Administration is ready to work with the new Italian government as soon as it is formed."

The State Department's statement went onto say as quoted by ANSA:

"Italy has been  reliable ally of NATO for years, a global actor on the front of international security and an engine for the European economy."

The markets business and banking elites are afraid of the new government and markets fluctuated during the day as the talks were on to form the new government.

But the new government has appointed a finance minister not seen as a strong opponent of the Euro-EU.    Giovanni Tria is reported close to the Forza Italia party and its leader, former Prime Minister Silvio Berlusconi.

ANSA Italian News Agency