While confirming Italy's North Atlantic Treaty Organisation commitments, the new government's policy agenda calls for lifting European Union sanctions against Russian Federation as well as the opening of dialogue and partnerships, given Moscow's economic, commercial and strategic importance.
Conte, a professor of Private Law of University of Florence, was chosen to take the position of Prime Minister by the coalition formed between Italy's two largest parties: League, led by Matteo Salvini, and Five Star Movement (M5S), led by Luigi di Maio. The 5-Stars, meanwhile, have fostered similar relationships. He rejected the inclusion of the ardently anti-euro currency Paolo Savona as economy minister.
Italian bonds gained on Thursday after the news of the Five Star-League deal, with the 10-year yield falling about 18 basis points to 2.7% before rising again to 2.8%. "Now we have to see facts", Salvini said, when asked about comments from German Chancellor Angela Merkel that Europe needs a new approach on immigration.
Italy had been without a government since it held elections in March, the longest stretch without a government in the country's postwar history.
Giuseppe Conte has been sworn in as the Italian Prime Minister.
"Starting today, we get to work to create work", Di Maio said in a Facebook video giving Italians a tour of the empty ministry.
Salvini, the bombastic and xenophobic leader of the League, who rose in politics in recent years on the back of incendiary and racist statements about migrants and Roma, is expected to take on the role of interior minister. My concern is the future of asylum seekers, people who are eligible for a refugee status. But his words carry more weight now that he is interior minister and deputy premier in the League-5-Star government.
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Salvini and Soros have always been at odds, particularly over migration policy.
Rome-born Tria is also a member of the Innovation Strategy Expert Advisory Group at the Organization for Economic Cooperation and Development where Italy's current Finance Minister Pier Carlo Padoan was chief economist between 2009 and 2014.
Another Cabinet pick seen as reassuring to those concerned the populists could set Italy drifting from its strong ties with the European Union is Foreign Minister Enzo Moavero Milanesi.
If the populists make reality of central campaign promises that could swell Italy's already staggering high debt, the European Union and financial markets might grow uneasy again.
The opposition Democratic Party warned that the new government would be "Right-wing, populist and unsafe".
European Commission President Jean-Claude Juncker told a conference Thursday that he loved Italy, but refused to accept the frequent pass-the-blame mantra by Italian politicians that Italy's ills are the fault of the EU.