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Italy’s Premier Mario Draghi resigns, spelling trouble for nation and Europe

Published:Thursday | July 21, 2022 | 8:20 AM
Italian Premier Mario Draghi waves to lawmakers at the end of his address at the Parliament in Rome, Thursday, July 21, 2022. Draghi's national unity government headed for collapse Thursday after key coalition allies boycotted a confidence vote, signalling the likelihood of early elections and a renewed period of uncertainty for Italy and Europe at a critical time. (AP Photo/Andrew Medichini)

ROME (AP) — Italian Premier Mario Draghi resigned Thursday after his ruling coalition fell apart, dealing a destabilising blow to the country and Europe at a time of severe economic uncertainty brought on by the coronavirus pandemic and Russia's war in Ukraine.

Draghi tendered his resignation to President Sergio Mattarella during a morning meeting at the Quirinale Palace.

Mattarella, who rejected a similar resignation offer from the premier last week, “took note” of the new one and asked Draghi's government to remain on in a caretaker capacity, the president's office said.

While the president could see if a new parliamentary majority was possible, his office indicated that he would dissolve the body and call early elections.

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 programme.

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 Italian Parliament's natural term.

Instead, the centre-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.

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