With Italian politics still in a stalemate following elections in early March, one lawmaker from the ruling Democratic Party (PD) has ruled out the possibility of his party making alliances with its main rivals.
The country's parliament is convening for its first session since the March 4 elections on Friday. Lawmakers will be meeting to elect the speakers of the Senate and the Lower House and many market participants will be looking for clues on potential deals struck within the three main political blocs: the anti-establishment Five Star Movement (M5S), the center-right alliance, and the incumbent party Democratic Party (PD).
As none of the parties were able to achieve an absolute majority at the elections, the selection for the speakers could provide some clues as to what discussions have been going on behind closed doors.
Speaking to CNBC, PD lawmaker Stefano Ceccanti ruled out any possible alliance with another party saying that "the PD is not available to form a government with either the Lega or the Five Star Movement because they are against the EU. We are in favor of the European Union."