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If You Like Italian Political Drama, Next Week Offers a Feast

Italy's Premier-Designate Carlo Cottarelli Presents Lists Of Ministers To President
Photographer: Alessia Pierdomenico/Bloomberg

Italy is used to political turmoil, but the latest government crisis -- triggered by League leader Matteo Salvini’s ambition to become prime minister -- is one of the most complex in recent history.

Predicting the outcome is difficult. What’s certain is that, despite the summer vacation, markets will be focused on events in Rome next week. The crisis will impact assets in the euro area’s No. 3 economy and beyond and could help determine whether insurgent populist movements around the world gain traction or lose steam.