Italy's leaders have softened their populist policies, top bank CEO says

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Italy's leaders have softened their populist policies, top bank CEO says
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The anti-establishment and partly nationalist coalition in charge of Italy have slowly normalized the way they do politics since coming to power, the CEO of Intesa Sanpaolo told CNBC Wednesday.

on its membership of the euro zone. As the voting day drew closer and with a change in the party's leadership, M5S began arguing that Italy needed to renegotiate some rules with the EU instead.

Nonetheless, both parties have kept a strong position toward the EU, including in matters related to migration. Deputy Prime Minister Luigi Di Maio threatened to veto the EU's next budget if the number of migrants arriving in Italy were not distributed across Europe. Salvini also declared Italian waters closed to NGO rescue vessels carrying migrants — raising the pressure on the EU to act..

Nonetheless, Messina told CNBC: "I don't think there could be any kind of populist risk in Europe coming from Italy." European voters will head to the polls later this month to choose new representatives to the European Parliament. The vote is being seen as a key test between Euroskeptic and pro-EU parties.

"The European elections, in my view, will be something positive for the country, because they will avoid this fighting mode between in order to compete for the election. Then they will start again to do and talk about what we need in the country," Messina told CNBC.

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