PM Draghi’s resignation throws Italy into political uncertainty
Max Civili
Press TV, Rome
On Thursday, Mario Draghi tendered his resignation as prime minister to President Sergio Mattarella after a coalition supporting his government of national unity collapsed.
Addressing the Lower House, the resigning prime minister thanked the parliamentarians present, most of whom had supported his executive over the last 17 months.
Draghi quit after three major parties in his broad coalition, namely the 5SM, the League and Forza Italia, boycotted a confidence vote in the Senate on a resolution backing the former president of the ECB.
Draghi's decision to resign paves the way for a period of high political uncertainty in Italy.
With the dissolution of the Italian parliament, the outgoing government will stay in office for everyday administration until snap elections are held.
In an unprecedented move, snap elections could take place as early as late September, a time when the government needs to prepare and pass its budget.
According to polls, a coalition which is led by the far-right Brothers of Italy and includes the League and Berlusconi's Forza Italia could win an outright majority in the next elections.
In a surprise move, the day after Draghi's resignation and for the first time since 2011, on Thursday the European Central Bank raised interest rates by 0.5 percentage points, while economists had expected a smaller 0.25 point hike. Some financial analysts have seen that as a warning to highly-indebted Italy.
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