Italy’s Di Maio poised to stand down as leader of Five-Star party

There are reports Italy’s  Foreign Minister, Di Maio, is poised to stand down from the position as leader of the Five-Star party. 

In earlier news, he said the European Union cannot forge a migrant policy without Italy. ''Italy is the country in Europe that has suffered the most from the migratory crisis of the last 10 years, in particular since some (countries) bombed Libya in 2011,'' Di Maio said.

''We paid for faults that were not ours and today we sent a clear message to the EU. 'Without Italy, the EU cannot make it, and that's why we expect our requests to be met''.

Di Maio said a ''new beginning is necessary for the EU.

''The European Commission has reopened negotiations on migration and asylum and soon a new European pact will be reached on the migration issue'', the minister announced on Facebook after the meeting.

Tere is little here to upside FX markets at this stage.