Reference no: EM133284370

Discuss widely:

1. The Italian version of Brexit, in which the EU's third-largest economy could potentially leave the European Union (EU), is known as Italexit, a portmanteau of "Italy" and "exit."

2. It could also be referred to as the alternative portmanteau Italeave, which means "Italy" and "leave."

3. The possibility of Italy leaving the EU, similar to the UK's Brexit, is referred to as Italexit or Italeave.

4. The Five Star Movement, which began in 2009, is at the forefront of the Brexit movement.

5. Italexit or any other "-exit" is frequently associated with a loss of sovereignty to the EU and high financial contributions that encourage extremism.

6. Understanding Italexit Each country in the European Union has its own unique set of political interests, which are influenced not only by the values.

7. Ideologies of extremist parties on either side of the political aisle but also by the country's situation, history, and culture.

8. Due to the fact that Italy's national elections in March of that year were inconclusive and left the country essentially without a ruling government.

9. The possibility of Italy leaving the EU became more real in the spring of 2018.

10. The so-called Five Star Movement, which began in 2009, is at the forefront of Italexit.

11. After the Democratic Party, the Five Star Movement is Italy's most popular political party.

12. Prior to Brexit, the Five Star movement was already gaining traction because the party won local elections and elected Virginia Raggi and Chiara Appendino as Rome and Turin mayors.

13.Respectively.The vote is a reflection of the state of Italian politics, despite the relatively low turnout.

14. Carlo Cottarelli, a former IMF official, was appointed interim prime minister by Italy's president Sergio Mattarella during the final weekend of May 2018.

15. Mattarella is able to nominate the head of the Italian government and its ministers because he is the president of Italy.

16. Following his refusal to accept Paolo Savona's nomination for finance minister, he put Cottarelli forward.

17. The Five Star Movement, which has pushed Italy to leave the EU, is represented by Savona.

18. This led to an impasse that was resolved by forming a coalition, which saw Giuseppe Conte, the current Prime Minister, take office in June 2018.

19. Motivation to Leave Before the Five Start Movement and League formed a coalition, political developments in Italy had thrown global markets off balance, raising the possibility of a weaker EU.

20. The possibility that Italy would default on nearly $2.7 trillion in debt, which would have had a significant impact on other nations, banks, and institutional investors, was of the utmost concern.