Reuters first to report Italy coalition drafts bill to reform central bank’s management

Reuters reported exclusively that Italy’s coalition has drawn up a bill aimed at giving the government and parliament the right to name the central bank’s five-member board, ending the current system by which appointments are made mainly internally. The draft bill, obtained by Reuters, is likely to increase long-running tensions between the Bank of Italy and the government, made up of the anti-establishment 5-Star Movement and the right-wing League.