One of the obstacles that has so far prevented Italy from forming a government has been the insistence to include 81-year-old economist Paolo Savona in a ministerial post by the anti-establishment Five-Star Movement and the nationalist League.
While they demanded a premium for taking on the risk, bond investors were found when the Italian government borrowed new 10-year debt on the market yesterday.
"Italy is bound to the euro by treaties and it is in Italy's interests to remain in the euro-zone", Codogno said.
Milan's stock index opened slightly higher Wednesday after Asian markets slid on investor concern that a new election could become a referendum on whether Italy will stick with the euro currency.
On the economic front, the euro zone economy has been slowing down from strong growth past year but consumer price data published on Thursday showed inflation jumped to 1.9 per cent, well above the forecast of 1.6 per cent.
The market panic on Tuesday - which saw Italian bond yields spike to their highest level in years and all major markets down, including the Dow Jones and S&P 500 - has planted fears that a financial downturn could seep through the rest of the 19-member euro zone and beyond, rupturing Europe's growth and even forcing the Federal Reserve to hold on its rate hiking plans. The greenback was little changed after its biggest decline in almost three weeks and the yen pushed higher.
World stocks gained 0.38 percent, and European shares made tentative gains after falling nearly 4 percent in the past five days.
That doubt was removed by the ECB's declaration, following Draghi's speech, that it would be prepared to buy the bonds of any country that sought a bailout from the European Union and accepted the conditions attached to an economic adjustment programme.
The Japanese yen dipped 0.1 percent to 108.90 per dollar. And just how high would the nation's cost of borrowing for 10 years, now about 2.8 percent, end up rising to?
Kendall Jenner and National Basketball Association star Ben Simmons are reportedly dating
Simmons!" "It was official before it was on the 'gram, that was just when everyone else found out". Rumours began swirling Simmons had ended his relationship with singer Tinashe late last week.
Rafael Nadal is the biggest men's grand-slam favourite in years
And just coming back from the physical impact of having a baby, at my age is never easy". "But I'm a super hands-on mom". So there is definitely a little functionality to it. "I can't believe how much went wrong on my way to meeting her".
Turkish central bank governor signal on monetary policy boosts lira
Erdogan, a self-described "enemy of interest rates", wants to keep borrowing costs low, particularly ahead of looming elections. Alongside last week's rate hike, the central bank has taken a series of measures to ease forex liquidity.
USA crude futures CLc1 fell 0.3 percent to $68 a barrel after gaining 2.2 percent on Wednesday when Russia's central bank expressed caution on plans to boost oil supply.Prices had fallen to a six-week low of $65.80 a barrel on Tuesday amid concerns that Saudi Arabia and Russian Federation might increase their output.
ENERGY: U.S. crude oil fell 27 cents to $66.46 per barrel in electronic trading on the New York Mercantile Exchange.
It gave bluechip Chinese shares .CSI300 their best day since August 2016 with gains of just over 2 percent.
The MSCI Emerging Market Index sank 1.1 percent to the lowest in nearly six months.
Q: How would Italy leaving the euro affect people outside Italy?
There was some support for the greenback as US Treasury yields nudged up from April lows hit this week to 2.849 though there were a number of geopolitical events to navigate.
The British pound advanced 0.3 percent to $1.3282.
Japan's Nikkei 225 stock index dropped 1.5 percent to 22,013.86.
Gold increased 0.3 percent to $1,302.64 an ounce.