Realizing he did not have the political support, Cottarelli stepped aside and let the two populist parties resume their plan to form a government.
The deal will bring at least temporary calm to a political crisis that has roiled Italy for weeks.
A formation of the new government will at least temporarily allay those concerns, because it will - for now - remove the threat that snap elections will be called later this summer, a prospect which anxious investors because it could have bolstered anti-EU parties.
Journalist Laura Silvia Battaglia speaks to TRT World about Italy's new government and its impact.
"Without promising any miracles, I can say that, after the first months of this government of change, I would like us to have a country with a little less tax and a little more security, a few more jobs and a few less illegal immigrants", a gleeful Salvini said at a rally.
New Prime Minister Giuseppe Conte and his cabinet - the first populist government in an EU-founding member - were sworn in by President Sergio Mattarella at the presidential palace.
The key economy ministry went to a mainstream economist, Giovanni Tria, who is close to the center-right Forza Italia party of ex-Premier Silvio Berlusconi.
Its new coalition partner Five Star Movement, led by Luigi Di Maio, has also called for a renegotiation of the EU's strict fiscal rules.
The last-minute compromise appointment of Giovanni Tria as economy minister was aimed at calming European Union leaders' jitters.
To speed up deportations - of which there were just 6,500 in 2017 - Salvini will have to increase the number of detention centres and sign agreements with origin countries, many of which are not eager to re-receive their citizens.
Italian financial markets jumped on the announcement of the new government formed by the anti-establishment Five Star Movement and nationalist League, whose ministers began taking the oath at the presidential palace at 4 pm.
While both parties are populist in nature, and have railed against Brussels and Italian "elites", they have always been natural opponents in politics.
Italy's president swore in western Europe's first populist government Friday, featuring a mix of anti-establishment and right-wing ministers who have promised an "Italy first" agenda that has alarmed Europe's political establishment.
Mattarella rejected Conte's original choice for economy minister but a different candidate was agreed on Thursday.
Salvini campaigned on a pledge to deport about 500,000 migrants from North Africa living illegally in Italy, with the near-bankrupt government subsidizing their care to the tune of billions.
The Frecce Tricolori air force aerobatic demonstration team flies Saturday over the monument to the unknown soldier during ceremonies in Rome, marking.
Avenatti is an active thorn in the side of the White House and had come to court to press for his inclusion in the proceedings. Avenatti denied that he did anything wrong. "Not even the same firm in the case", he said.
In the meantime, the Russian Investigative Committee has launched its own investigation into Babchenko's death. He accused Ukraine and its "Western handlers" of seeking to use it to stir up anti-Russian sentiments.
However, his pain could be short-lived as the Red Devils are reportedly looking to bring him to the Premier League regardless. Fulham teenager Ryan Sessegnon , meanwhile, said: "It's been a fantastic season for me and the team".
The global benchmark, Brent crude, little changed in the previous session, was up 16 cents, at US$77.72 per barrel. Speculators in Brent crude cut their net long positions in the week by 49,638 contracts to 451,966.
Trump supporters say the president's economic plan and hard-bargaining with other countries is paying dividends for USA workers. Navarro said on Fox's "Sunday Morning Futures". "It's closely held and misuse of it leads to dismissal".
Andre Burakovsky chipped in with two assists of his own as the Capitals won their first-ever game in a Stanley Cup final. It's just the way it works out sometimes. "We just. play on instincts". "We really need to simplify things".
He has made 156 appearances over five seasons with Shakhtar, the Ukrainian Premier League champions, scoring 14 goals . He recently appeared as an 82nd-minute substitute for his nation's 2-0 victory over Croatia last weekend at Anfield.
The company's Falcon 9 rocket, with a used first stage , launched from Florida's Cape Canaveral Air Force at 12:29 a.m. SpaceX Falcon 9 rocket is ready to liftoff early Monday morning from Cape Canaveral carrying the SES 12 satellite .
Most of Hawaii Volcanoes National Park remains closed due to persistent earthquakes and eruptions of corrosive volcanic ash. In addition, at over four weeks , this eruption has lasted longer than the 1955 and 1924 eruptions, the USGS said .
Verdasco too failed to break his serve initially before regaining composure and winning four games in a row to take the set 6-2. US Open champion Sloane Stephens cruised past Estonian Anett Kontaveit 6-0, 6-2 to book a last-eight spot for the first time.
US first lady Melania Trump arrives in the Rose Garden to speak at the White House May 7, 2018 in Washington , DC. Conspiracy theories are growing and not likely to stop with the latest news of the first lady's absence.
Ariya survives rollercoaster round to win US Women's Open
I got mad a little bit about what happened in my back nine, but I decided I'd just make sure I'd do my best to every shot. Consistency in 2018 earned her $700,000 even before the $900,000 boost that comes with being crowned US Open champion.
Apple takes direct swipe at Facebook over privacy at WWDC
Apple Chief Executive Officer Tim Cook speaks at the Apple Worldwide Developer conference in San Jose, Calif., on June 4, 2018. Using the new Siri Shortcuts app, iPhone owners can build customized actions for Siri to perform upon hearing a given command.
No Iran in Syria
Russian Federation has hinted that "foreign forces" should withdraw from Syria , and Israel has interpreted that to include Iran. Secretary of State Mike Pompeo as well, Netanyahu stressed that Iran needs to leave all of Syria", the official said.
How to watch Cavs vs Warriors online or on TV
Coach Steve Kerr had said Thompson, who suffered a sprained left ankle in Game 1 on Thursday, would be evaluated after warmups. Rather than settle in his isolation possessions, Durant looked to make plays when he encountered resistance in the half court.
At least 7 dead as volcano erupts in Guatemala
Hundreds of rescue workers, including firefighters, police and soldiers worked to recover bodies from the still-smoking lava. Farmers covered in ash fled for their lives as civil defense staffers tried to relocate them to shelters during the event.
Facebook sinking fast among US teens
The shares of teenagers who use Twitter and Tumblr are largely comparable to the shares who did so in the 2014-2015 survey . The survey discovered that 50 percent of female users said they were always online compared with 39 percent of male users.
Sanders statement on Trump tariffs
The EU said the imposition of the tariffs is "inconsistent with the US' obligations and rights set out in the WTO Agreement". He added: "We believe in a rules-based system, a multilateral system, President Trump doesn't and we must understand that".
Warriors shoot well, Cavs stay close in Game 2
This was something which James emphasised when talking to the media about the incident, as he said: "We've got to move on". The boxscore shows Curry finished with 33 points, including an NBA Finals record nine 3-pointer.
Roseanne says she ‘begged’ ABC to save her show
Roseanne Barr has been widely criticised for a tweet she posted to Valeri Jarret, a former White House advisor for Barack Obama . Her show has become a weekly source of controversy in the current American zeitgeist and it looks like ABC had just had enough.