In the group of eight women appointed to posts is Federica Mogherini is foreign minister.  She had been a party official in charge of European affairs. Roberta Pinotti becomes first female defense minister.  Minister for economic affairs is entrepreneur and close Berlusconi associate Frederica Guidi.

Carlo Padoan was appointed as finance minister.  This sends a positive signal to investors and the European Commission. The new minister has robustly defended fiscal consolidation while promoting reforms to make the eurozone’s third largest economy more competitive.

Padoan argues that fiscal consolidation has been necessary to get the European economy back on track and not the cause of high unemployment rates and poverty.