Rome: Italian Premier Mario Draghi resigned on Thursday after his ruling coalition fell apart, and the country’s president dissolved Parliament. The move paved the way for new elections although no date is set yet. However, President Sergio Mattarella said the new election must be held within 70 days under Italy’s Constitution. He said he took the step because the lack of support for Draghi also indicated there was “no possibility” of forming another government that could carry a majority of lawmakers.
Parliament’s five-year-term would have expired in March 2023.
Draghi tendered his resignation to Mattarella during a morning meeting at the Quirinale Palace. Mattarella, who rejected a similar resignation offer from the premier last week, asked Draghi’s government to remain on in a caretaker capacity, the president’s office said.
The moves dealt a destabilizing blow to Italy and Europe at a time of inflation and economic uncertainty brought on by the coronavirus pandemic and Russia’s war in Ukraine. The turmoil couldn’t have come at a worse time for the eurozone’s third-largest economy. Like many countries, Italy is facing soaring prices for everything from food to household utilities as a result of Moscow’s invasion. On top of that, it is also suffering through a prolonged drought that is threatening crops and struggling to implement its EU-financed pandemic recovery program.
Any instability in Italy could ripple out to the rest of Europe, also facing economic trouble, and deprive the EU of a respected statesman as it seeks to keep up a united front against Russia.
Draghi, who is not a politician but a former central banker, was brought in 17 months ago to navigate the economic downturn caused by COVID-19. But his government of national unity imploded Wednesday after members of his uneasy coalition of right, left and populists rebuffed his appeal to band back together to finish the Parliament’s natural term.
Instead, the center-right Forza Italia and League parties and the populist 5-Star Movement boycotted a confidence vote in the Senate, a clear sign they were done with Draghi.
(With Associated Press inputs)
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