Following his resignation last week, which was refused by President Mattarella, Italy’s Prime Minister Mario Draghi will address the Senate today. He will tell them whether he is prepared to stay in office or not.
The unelected PM has headed a unity government since February 2021. This morning, he will tell Italy’s parliament whether he is prepared to stay in office or not. Following, there will be a vote of confidence in the government.
Mr Draghi indicated he won’t govern without the Five Star Movement (M5S) party, a key component of his coalition government. Italy has had almost 70 governments since the end of World War 2 (77 years), now it will see if the latest executive will also fall.
Draghi would have stood down in 2023 when the next elections due to take place. However, if he leaves elections are more likely in the autumn.
Resignation will throw Italy into disarray
Draghi is the ex-head of the European Central Bank. He has been praised for getting Italy’s finances onto a more even keel. But a key member of his broad unity coalition, the populist M5S, prompted his decision to resign by refusing to take part in a confidence vote last Thursday.
If the PM does stand down today, the impact on Italian reforms and setting the 2023 budget would be immense. Italy is the biggest recipient of grants and loans from the EU’s Covid recovery fund. However, they won’t receive the next instalment if a list of reforms have not been made.
With much-needed funds in the balance, the continuing war in Ukraine affecting energy prices and supply as well as other economic factors and the recovery from the Covid pandemic, a change of government now is not great timing.
Mayors call for Draghi to stay
Italy is the EU’s third-largest economy. 1,600 mayors as well as 250 business leaders and unions have called on the PM to stay. Mr Draghi, however, has made no comment since President Sergio Mattarella rejected his resignation and saw him again on Tuesday for a scheduled meeting.
The ratings agency Fitch warns that reforms would probably become more challenging without Draghi.
Florence’s centre-left mayor, Dario Nardella, said the big number of signatures by city leaders was unprecedented. He added it indicated “very strong feeling” across the political spectrum for Mr Draghi not to resign.
Regional affairs minister Mariastella Gelmini, of Forza Italia (FI), said the centre right was backing Mr Draghi to stay in office “no ifs, no buts”. However, FI and the far-right League said they were not prepared to continue in government with M5S.
