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Cdp and Rai, stock market down on appointment chaos. But Salvini: "The 24th closes"

The political tensions in the government, according to the traders, are influencing the trend of the Milanese market which records a greater decline than the other Squares - Minister Tria under siege by the Lega and M5S who would like to impose their candidates - Prime Minister Conte tries to mediate but skip the summit – Tuesday in the CDM also the Rai summit but it's all on the high seas – The spread goes up

Cdp and Rai, stock market down on appointment chaos. But Salvini: "The 24th closes"

The nomination match raises the tension in the majority as in Piazza Affari. Lega and Movimento 5 Stelle have not yet managed to reach an agreement on the new leaders of Cassa Depositi e Prestiti, but, after three postponements, this time the deputy prime minister Matteo Salvini assures: "The game will close at the Council of Ministers on July 24th".

In the meantime, however, the situation in the government she is not calm at all. First the summit convened by Prime Minister Giuseppe Conte and then disavowed amid general embarrassment. Then Salvini who makes it known that he has not been informed of the appointment. Finally, Luigi Di Maio who rails against the Minister of Economy, Giovanni Tria, accused as usual of moving with excessive autonomy. But the political leader of the M5S denies the rumors that spoke of a break: "I never asked for his resignation," he assures.

The tug of war therefore continues and will also occupy the weekend in the search for a possible agreement. The number one of the Treasury has proposed as CEO of the Cassa Dario Scannapieco, former Treasury executive and current head of the European Investment Bank. Di Maio and Salvini refused, so an attempt at mediation was reached: to get the parties to accept Scannapieco on the CEO chair, the general manager could be Fabrizio Palermo, today the financial director and architect of the listing on the Fincantieri stock exchange.

The negotiation stalled around how many powers to assign to one or the other. Meanwhile, however, Di Maio has launched the name of Marzio Perrelli, head of HSBC Italia and former Goldman Sachs.

Instead, the possibilities of three other candidates: the head of Deutsche Bank Italia Flavio Valeri, the former number two of Intesa Sanpaolo Marcello Sala and the former president of the Post Office Massimo Sarmi.

The only certainty is that the next president of the Cassa will be the former Mps Massimo Tononi, which, as required by the statute, has been indicated by the Foundations.

The chaos on the appointments is also felt on the markets, with the bag who loses half a point and lo BTP-Bund spread which climbs back above 220 basis points. The 2,50-year rate is back above XNUMX%.

Not only that: the lawsuit on the CDP is closely linked to that on new Rai top management. The two directors appointed by the MEF should also emerge from the Council of Ministers which will take place next Tuesday. Names that will be decisive in understanding who will be called upon to hold the positions of chairman and managing director, based on the provisions of the Rai governance reform approved by the Renzi government in 2015 and put into practice this year for the first time.

Meanwhile, Wednesday Parliament elected the four members of the Rai board of directors within its jurisdiction. The Senate elected Beatrice Coletti - television manager chosen by the M5S after the online vote of the members - and Rita Borioni, outgoing and reconfirmed member, in Pd share. The Chamber, on the other hand, elected Igor De Biasio (in Lega quota) and Gianpaolo Rossi (candidate from the 5 Star Movement). Lastly, on Thursday the assembly of Rai employees elected Riccardo Laganà, 43, a production technician, as its representative on the board.

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