European Union confident Italy's new government will cooperate with…

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Populists took power in Italy for the first time Friday with the swearing-in of a new government fusing in a coalition a political movement that delights in pillorying the establishment and a party whose anti-migrant, euro-skeptic politics have seen it soar in popularity.

New Prime Minister Giuseppe Conte, 53, was sworn in at the head of the first populist government in an European Union founding member that was forged by the Five Star Movement and the far-right League.

The Italian government formed by newly-appointed Prime Minister Giuseppe Conte was officially sworn at the presidential palace on Friday.

"The new government will make sure that the rights and the dignity of 60-M Italians will be respected", Mr. Salvini said in a statement, adding that "Italians expect from Europe cooperation and not insults".

Italy has been without a government for almost three months after the March elections came out inconclusive.

His cabinet line-up would directly involve M5S leader Luigi Di Maio and League leader Matteo Salvini both in the role of vice prime ministers.

Mattarella then turned to former International Monetary Fund official Carlo Cottarelli to form a neutral government of technocrats to lead Italy until early elections.

"Let's find someone of the same calibre as Savona, who would still remain in the government in another ministry", Di Maio said on Facebook after meeting with Mattarella.

"We will work hard to reach the objectives included in the government contract and to improve the quality of life of all Italians", Conte said. The Democratic Party, League and Five Star Movement (M5S) have all called for a vote "as soon as possible".

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Conte's Cabinet was sworn in Friday after a last-minute deal averted the threat of a new election that had sent stock markets around the world tumbling.

He said "the mafia has always made us and will always make us sick, wherever there is injustice I will try to be there with a team".

Conte initially dropped his bid to secure cabinet after President Mattarella's blocked Conte's initial choice for economy minister, which cast doubt on the ability of the coalition to form a government.

The scholar already served as advisor to Italy's Prime Minister for EU affairs and privatization of state-owned companies between 1993 and 1995, and as Minister of European Affairs between 2011-2013 and 2013-2014, according to his online resume.

ITALY: Investors dumped Italian government bonds, driving borrowing costs sharply higher for that country and rekindling fears of more financial strain for Europe's third-largest economy.

Di Maio, the new economic development minister, reported for work after the parade to his ministry, which would have otherwise been closed for the holiday.

Economic analyst Lorenzo Codogno said any new possible political government would likely mean tweaks to the coalition agreement, including dropping euroskeptic Paolo Savona as economy minister.

Realizing he did not have the political support, Cottarelli stepped aside and let the two populist parties resume their plan to form a government. This led to Conte briefly resigning his position as leader of the coalition.

If President Mattarella decides to call snap elections - that would suit the two eurosceptic parties, the BBC's James Reynolds in Rome says. "The absorption of European Union funds could be improved so that people can feel the results on the ground more swiftly", the spokeswoman said.