After a week of turbulence, Italian Prime Minister Mario Draghi resigns

Mario Draghi has resigned as prime minister of Italy, the country’s unelected head of a unity government, one and a half years after his appointment. After three parties in his cabinet declined to support him in a vote of confidence the previous evening, he informed President Sergio Mattarella that he was stepping down.

Early elections are anticipated for this fall, and the president urged him to continue serving as interim president. Giorgia Meloni, the leader of the far right, is already predicted to win.

The 74-year-old Mr. Draghi, known as Super Mario for his leadership of the European Central Bank throughout the eurozone crisis, was a well-liked option for prime minister. He was tasked with leading Italy through the Covid epidemic and economic recovery in February of last year, supported by a sizable EU package contingent on significant reforms.

The lower house of parliament applauded Mr. Draghi before he left for the presidential palace, the Quirinale. “Even central bankers occasionally have their hearts touched. I appreciate all the work you’ve done over this time “He informed MPs.

When a populist party in his broad-based coalition declined to support an economic package for families and businesses, he first proposed his resignation a week ago.

After several days of silence, Mr. Draghi informed the upper house of parliament that President Mattarella had asked him to remain in the position and that he would do so if the political parties were willing to support a powerful, well-coordinated government: “Are the parties and you parliamentarians ready to rebuild this pact?”

Italians anxiously awaited the response for several hours until three of the parties decided they would not support him in a vote of confidence. President Mattarella stated that his administration will continue to function in order to manage current problems, but he did not specify what would come next. Elections were scheduled for the first half of 2023, but after the legislature is dissolved, they will likely be moved up to mid-September or early October.

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