Italy is facing another political crisis following the appointment of former International Monetary Fund official Carlo Cottarelli as interim Prime Minister.

The move by President Sergio Matterella spells fresh elections for the third-largest economy in the euro zone.

European markets haven’t expressed confidence in Mr. Cottarelli’s appointment, being noted as a shrewd spender.

Nick Parmeter asked Dr. Frank Mols what this decision means for Italy and the EU.

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