Ex-IMF Economist asked to form Italy government

Italy's president has formally asked economist Carlo Cottarelli to try to form a government after quashing the hopes of the euroskeptic 5-Star Movement and the League to form Western Europe's first populist government.

President Sergio Mattarella turned to the former International Monetary Fund official to run a technocratic government until an early election can be held. Mattarella's office announced the president had given a mandate to Cottarelli to try to form a government after about an hour of consultations today.

Mattarella enraged the 5-Stars and League by vetoing their choice for economy minister on Sunday night, throwing Italy into a new round of political uncertainty more than two months after an election created a hung parliament.