Free Republic

The euro has recovered some lost ground and is trading at $1.232 so it’s looking like a bit of score-draw for the single currency so far. It’s a bit of a different picture for the Italian stock market which seems set to fall sharply later today. Futures trading points to a 1.3% drop in the Italy 40 index of leading companies, according to online trader IG. ...Italy’s ruling centre-left Democratic Party has admitted it had suffered a “clear defeat” in a general election after coming in third according to projections. ...More than 50% of Italians voters supported populist parties. ...The...

Leader of Italy’s eurosceptic party Lega, Matteo Salvini, heavily criticised Islam in an interview. Salvini said that Islam sees women as inferior and is a law instead of a religion. As a law it is incompatible with Italian values, he said. Asked about mosques, Salvini said he could shut down illegal mosques. Salvini could become Italy’s next Prime Minister as he takes part in a popular centre-right bloc in Italy’s elections. In several regions he already leads the polls and his support is growing.

Europe’s establishment breathed a sigh of relief after the pro-European Union centrist Emmanuel Macron was elected French president this week. But another populist storm is brewing in Italy, where the euroskeptic 5 Star Movement has remained strong. Fueled by discontent with slow growth, high unemployment and disillusionment with mainstream politicians, 5-Star has won local elections in Rome, Turin and elsewhere, partly on the strength of its leaders’ call for a referendum on Italy’s use of the European single currency. Pollsters say about 30% of Italian voters support the movement founded by comedian Beppe Grillo, a level of popularity that has...

Italy's anti-establishment and anti-euro party Five Star Movement (5SM) represent the greatest threat to euro area stability, analysts told CNBC on Tuesday, as the populist party surged ahead of its political rivals in the latest opinion poll, putting it on course to be the biggest party if elections were called. 5SM leader Beppe Grillo has enjoyed a recent, and remarkable, uptick in support, buoyed in part by the divisions in the ruling Democratic Party (PD) as former Prime Minister Matteo Renzi attempts to regain support. Grillo, who has campaigned for Italy to hold a referendum on the single currency if...