Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Italian Prime Minister Giuseppe Conte (R), flanked by Deputy Prime Minister and Interior Minister Matteo Salvini. Photo: Andreas Solaro/AFP/Getty Images

This is a summer of crises for Europe, with a political collision in Italy landing in the midst of Brexit chaos while the continent's top economies flirt with recession.

Driving the news: Italian Prime Minister Giuseppe Conte said Tuesday that he would submit his resignation amid tensions between the 2 populist parties that comprise his government coalition: the anti-establishment Five Star Movement and the far-right League. He declared that the ruling coalition of 2 populist parties "ends here."

  • Deputy Prime Minister Matteo Salvini, Conte's former coalition partner, Italy’s interior minister and leader of the far-right League party, has been demanding fresh elections and could soon claim the prime minister’s office for himself.

Why it matters: Italy has seen 16 leaders take power in the last 30 years. If Salvini is the 17th, Italy's crisis could spread far beyond its borders.

How we got here:

  • The League and the anti-establishment 5 Star Movement were the big winners from Italy’s 2018 elections. They formed an uneasy ruling partnership, with Conte plucked as a compromise prime minister.
  • The parties almost immediately clashed with one another, and with the EU. Proposals from both would further inflate Italy’s massive public debt, provoking threats and pleas from Brussels.
  • Salvini made his move on Aug. 8, calling for the government to break apart. Polls suggest the fiercely anti-immigrant League and a right-wing ally could likely form a majority government. However, his far-right party is still facing questions over a campaign finance scandal involving Russian funds.

What to watch: Salvini may have miscalculated.

  • With Conte’s resignation, President Sergio Mattarella will now have to determine whether a stable government can be formed or fresh elections are needed. One possibility would see 5 Star and the center-left Democratic Party join together and expel the League from government.

The big picture: Italian politics are famously volatile, but the stakes here are high for Europe and for the global economy.

  • Salvini has floated an exit from the euro. Even short of that drastic step, the looming debt crisis is a greater source of concern even than Brexit for many in Brussels.

What they're saying:

  • Conte called Salvini "irresponsible" and said he didn't commit himself to "the government's good work" because "he was too focused on looking for an excuse to pull the plug on it."
  • Salvini said he would do everything over again: "I am a free man. I am not afraid of the judgment of Italians."
  • Matteo Renzi, a former prime minister, called for a government of national unity: "Populism has failed in this country."

The bottom line: Conte has lasted 14 months as prime minister. That’s not a particularly short tenure by Italian standards.

Go deeper

Updated 1 hour ago - Politics & Policy

Officer Kim Potter arrested, charged with manslaughter in Daunte Wright's death

Kim Potter's booking photos. Photo: Hennepin County Sheriff's Office

Kim Potter, the former police officer charged with second-degree manslaughter in the fatal shooting of Daunte Wright, was released on a $100,000 bond on Wednesday, Hennepin County jail records show.

Why it matters: Sunday's shooting of the 20-year-old Black man in Brooklyn Center, Minnesota, just 10 miles from where George Floyd was killed by a Minneapolis police officer last year, has reinvigorated Black Lives Matter protests and led to three consecutive nights of unrest.

Updated 2 hours ago - Politics & Policy

Biden names Erika Moritsugu as senior AAPI liaison

Erika Moritsugu. Photo courtesy: National Partnership for Women & Families

President Biden has named Erika Moritsugu as deputy assistant to the president and Asian American and Pacific Islander senior liaison, the White House announced Wednesday.

Driving the news: The decision follows weeks of pressure from AAPI leaders to include more Asian American representation at the Cabinet level and in senior administration roles.

Matt Gaetz targets CNN in new ad amid sexual misconduct claims

Rep. Matt Gaetz in Doral, Florida, last week. Photo: Joe Raedle/Getty Images

Rep. Matt Gaetz (R-Fla.) announced Wednesday a six-figure ad buy for a spot that takes aim at CNN as part of an offensive to hit back at mounting sexual misconduct allegations, Politico first reported.

Driving the news: Gaetz is under federal investigation following sex trafficking allegations, and the House Ethics Committee has also opened an inquiry. Announcing the 30-second ad, to run in his Florida Panhandle district, Gaetz called on his Twitter followers to "help us fight back!"