Giuseppe Conte, a 53-year-old civil lawyer and academic, has been given a formal mandate to become Italy’s next prime minister. He has no previous political record and has been accused of embellishing his resume — which he denies.
Why it matters: Conte will lead the government with the support of two populist parties, the anti-establishment Five Star Movement and the far-right League. Both parties used aggressive anti-European rhetoric in the campaign, and advocate fiscal policies that will meet stiff opposition in Brussels. This has raised worries through the region, and investors have abruptly sold off Italian assets.