Political crisis in Italy: the far right breaks with legislative elections and strength

"Too many are not detrimental to Italy, which must instead return to growth and therefore go quickly to elections"said the league in a statement, a day after the end of the Salvini coalition with the anti-system party of the 5 Star Movement.

"Those who waste time are hurting the country and only thinking about perpetuating themselves in their positions"he added.

Salvini's surprising announcement, which followed a period of fierce public struggles between the two formations, deepens the political uncertainty of the third largest economy in the euro area, while preparations for the 2020 budget were on the point to start.

The elections could be held in October, Reuters announced.

Investors reacted by selling state bonds and Italian shares. The 10-year returns have reached a maximum of five weeks. This is the highest daily increase since May 2018. The index of outstanding Italian shares lost 2.3%, causing other European stock markets to fall.

Salvini said Thursday in a statement that he had communicated to the prime minister, Giuseppe Conte -which does not belong to any of the parties of thea coalition – that alliance with 5 stars has collapsed after only a year of power and that "we should quickly give the option back to the voters". As noted, Cabinet meetings were plagued by conflict.

The head of state, the president Sergio Mattarella, is the only one with the power to dissolve Parliament, but could try to form a new government before calling elections.