Matteo Renzi given mandate to form new Italian government

FXStreet (Łódź) - Italian President Giorgio Napolitano has nominated Matteo Renzi Prime Minister today, giving him the mandate to form a new cabinet. 39-year old Renzi, who is currently the head of the Democratic Party and the mayor of Florence, will become the youngest government leader in Italian history.

The new PM is to start consultations on the new cabinet on Tuesday with the aim of reaching a coalition deal with the New Centre-Right party and securing parliamentary majority. He is also expected to present the plans for electoral reform before the end of February. Furthermore, in the next months, he should give the details of the labor reform, as well as the tax and administration reforms.

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