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Italy's ruling coalition says market watchdog chief should resign

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ROME (Reuters) – Italy’s ruling coalition said on Wednesday that the chief of Consob, the country’s market watchdog, should resign because they say his continued ties to the European Commission conflict with his institutional role.

Consob head Mario Nava was appointed earlier this year by the previous government.

“Contrary to the opinion expressed by the previous government, Nava, as an employee of a supra-national institution, is incompatible with the presidency of an independent Italian authority, whose role is to guarantee the orderly functioning of the national financial market”, the League party and the 5-Star Movement parliamentary group heads said in a statement.

(Reporting by Giuseppe Fonte, writing by Giselda Vagnoni, editing by Steve Scherer)

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