Quirinale Palace, 27/05/2018
After testing, to no avail, all possible options during the first two months, as is known, a parliamentary majority was formed by Movimento Cinque Stelle and Lega which, despite having been opponents in the elections, reached an agreement at the end of a wide-reaching concerted effort on drafting the political agenda.
I fostered the possibility of giving rise to a Government in all possible ways.
I waited the time requested for them to reach an agreement on the agenda and to have it approved by their respective grassroots militants, although I was aware that this would attract criticisms.
I accepted the proposal for the conferral of the appointment of Prime Minister, overcoming all perplexities over the fact that a political government be led by a prime minister not elected to a seat in Parliament. And I followed, with my full attention, his work to form the government.
Therefore no one can affirm that I have hindered the formation of the 'government of change', as it has been defined. On the contrary: I accompanied this attempt with a great sense of cooperation, as is dictated by my duties in compliance with Constitutional rules in the presence of a parliamentary majority.
I had informed both the representatives of the two parties and the premier-designate, without receiving objections therefrom, that for some ministries I would place particular attention on the choice of nominee.
This afternoon Professor Conte - whom I appreciate and thank - submitted his proposals for the decrees of appointment of the ministers which, in accordance to Constitutional rules, I have the duty to sign, thereby assuming the institutional responsibility for this act.
In this case, the President of the Republic performs the role of guarantor and has never been, nor could ever be, subjected to impositions of sorts.
I shared and accepted all the proposals made for the ministers, except the one for the Minister of the Economy.
The designation of the Minister of the Economy always constitutes an immediate message of confidence or alarm for economic and financial players.
For that Ministry, I asked for the indication of an authoritative political representative of the majority, coherent with the agenda of the political alliance. A representative who - beyond the respect and consideration that I have for the person - may not be seen as the promoter of a line of reasoning, often manifested, that could probably, or even inevitably, provoke Italy's exit from the Euro. This is evidently quite different from having a strong attitude within the European Union in order to improve it for the better from the Italian point of view.
In response to my request, I regretfully witnessed an unwillingness to opt for any other solution, and the premier-designate relinquished the appointment.
Uncertainty over our position on the euro has raised alarm among investors and savers, Italian and foreign, who have invested in our Government bonds and in our companies.
The rising spread, day after day, increases our public debt and reduces Government spending on new social initiatives.
The losses on the stock exchange, day after day, burn the resources and savings of our companies and of those who have invested in them. And they configure a tangible risk for the savings of our citizens and for Italian families.
We must be aware of the danger of steep interest rises on mortgage and corporate loans. Many of us remember when - prior to the European Monetary Union - interest on loans was close to 20 percent.
It is my duty, in fulfilling the task of appointing the ministers, which I am entrusted by the Constitution, to pay great care in protecting the savings of Italian citizens.
This is the way of tangibly reaffirming Italian sovereignty. At the same time, we must reject all the unacceptable and grotesque judgments on Italy published on the media of a European Country.
Italy is a Founding Nation of the European Union and is a major player therein.
I am not making tonight's statement light-heartedly. Also because I did everything possible to give birth to a new political government.
In making this statement I am giving prevalence, before all else, to defending the Constitution and the interests of our national community.
The decision of joining the Euro is of key importance for the prospects of our Country and of our youth: if we want to discuss it, we have to do so openly and after a serious in-depth analysis. Also because it is an issue that was not brought up during our recent election campaign.
I have been informed of the request by political forces to call early elections. This is a decision that I reserve to duly make on the basis of what will be decided by Parliament.
I intend to promote an initiative in the next few hours.