The euro has retreated from last week's cuts and worries about the Italian government after the Italian president dismissed Paolo Savona as the country's finance minister. As a result, the populists have withdrawn the draft coalition.
At first glance, a normal political environment, but in the case of very profound consequences in favor of the euro. At least in the medium term. The withdrawal of Five Stars from the efforts to create a government inspires hopes for the pro-European parties, and hence the fears surrounding the Italian debt are weakening. This in turn gives the ECB the freedom to cut QE next month.
Source: Bloomberg Pro Terminal
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