Italy's League Leader Salvini: Centre-Right Coalition Won and Can Govern

Italy votes in uncertain election stalked by populism

Italy votes in uncertain election stalked by populism

And boss of eurosceptic The League party Matteo Salvino said the weekend's shock election result could see the country crash out of the euro.

Luigi Di Maio, the head of the biggest single party, the anti-establishment 5-Star Movement, said his group had emerged as the clear victor on Sunday, capturing around a third of the vote, and should take the helm of the next government.

With no party or coalition able to form a governing majority, we're in for the usual post-vote deal-making. Ten-year Italian government notes yielded 2 percent at the end of trading Monday, which was lower than a week earlier.

"Di Maio wins, Italy ungovernable", was the front page headline on La Stampa newspaper.

Preliminary results released by Italy's Interior Ministry showed the center-right coalition winning about 37 percent of the parliamentary vote and the populist 5-Star Movement getting about 32 percent. The center-left bloc was far behind with 23 percent support.

Lega received 17.6% of the vote, ahead of Silvio Berlusconi's Forza Italia, which obtained 14%.

Meanwhile, in Italy, the anti-establishment Five Star Movement and the far-right euro-sceptic League party were the big winners of the Italian election, which laid bare widespread anger over immigration and frustration with mainstream politics.

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"We have destroyed all the parties who have dissolved in sickening diarrhoea", said comedian and Five Star founder Beppe Grillo.

"The markets have nothing to fear", League leader Matteo Salvini told reporters in Milan, hours after the anti-establishment 5-Star Movement also claimed the right to govern as the biggest single party.

Led by 31-year-old Luigi Di Maio, it was formed in 2009 and has fed off public fury over institutional corruption and economic hardship.

The 5-Stars had a remarkably strong showing in the south, which has always been a stronghold of the centre-right and Forza Italia.

Di Maio said that "we are a political force that represents the entire nation".

The result exceeded expectations and thrust the party into the driving seat of a right-wing alliance forged by Silvio Berlusconi.

Italy has a long history of finding a way out of political stalemates.

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MATTEO Renzi has resigned as head of Italy's Democratic Party following his humiliating defeat during the national elections.

The election result in Italy equates to a complex picture based on an important North-South split, and no clear mandate for any single political party.

To Brussels, this would have been a welcome result: After all, a former European Parliament president couldn't lead Italy too far astray, or so the thinking went.

'A coalition was considered a good outcome but the market preference was for one mainly involving the traditional parties, ' said Claudio Ferrarese, fund manager at Fidelity International. He will choose someone to try to form a government as he cajoles former rivals to get over the rancour of the campaign.

As of noon local time, the turnout was a little over 19 percent, Reuters reported, higher than five years ago where Italians voted over the course of two days. British far-right, pro-Brexit campaigner Nigel Farage also congratulated the 5-Stars. The process, brokered by Italian president Sergio Mattarella, might take weeks.

Now, however, it looks increasingly unlikely that populist parties, and the M5S in particular, can be left out of a broad coalition given the election result.

"No, no, no", Salvini said when asked about the possibility of governing with the 5-Stars.

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But we will prepare for it as if it's our last game, as if it's a final. "It's a challenge for me", he said. Filipe Luis has never tasted victory at Camp Nou and has no intention of settling for a point.

Resentment at the hundreds of thousands of migrant arrivals in Italy in recent years fired up the campaign, along with frustration about social inequalities.

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