Italy’s President Dissolves Parliament And Calls For New Elections After Accepting Draghi’s Resignation

Topline

Italy’s President, Sergio Mattarella, has accepted the resignation of Prime Minister Mario Draghi and dissolved parliament, calling for an early election and throwing the country into political chaos.

Key Facts

Draghi first resigned from his position last week when a populist political party declined to support him in a confidence vote, but Mattarella rejected the resignation, asking Draghi to appeal to parliament for unity.

When Draghi made his appeal Wednesday, three parties refused to vote, prompting a new offer of resignation which was accepted.

Italy is now scheduled to hold elections September 25, the New York Times reported.

Despite his reluctance to accept Draghi’s resignation, Mattarella deemed the action “inevitable,” according to CNN.

Although he will not officially leave his post until the election, Draghi’s resignation leaves Italy in flux as the country tackles inflation, surging energy prices, problems related to the war in Ukraine, the pandemic and drought.

Key Background

Credited with saving the euro, Draghi served as president of the European Central bank before his stint as prime minister. Draghi was a unique candidate in that he was unaffiliated with any political party. Draghi was known for his pragmatism and strong stance against Russia. His government fractured when the populist party known as the Five Star Movement refused to participate in a confidence vote that included a $23 billion relief package and a provision to install a trash incinerator in Rome. Led by Draghi’s predecessor, Giuseppe Conte, the Five Star Movement found the economic aid to be inadequate and did not agree with the placement of the incinerator.

Crucial Quote

“Even central bankers have their hearts touched sometimes. Thank you for all the work done in this period,” Draghi told parliament.

Tangent

A strong coalition of right-wing parties – the far-right League party, led by Matteo Silvini, the Brothers of Italy, a party with neo-fascist roots led by Giorgia Meloni, and former prime minister Silvio Berlusconi’s Forza Italia party – seems poised to take over the government. Brothers of Italy is currently leading in the polls, the Financial Times reported, garnering the favor of 22.5% of voters.

Further Reading

Italy’s President Accepts Draghi Resignation, Calling for New Elections (The New York Times)

Italy’s Prime Minister Mario Draghi Resigns as Support Crumbles (the Wall Street Journal)

Italian Prime Minister Mario Draghi Moves To Resign, Leaving Government In Turmoil (Forbes)