33.8 F
New York
Thursday, March 30, 2023

Italian PM Mario Draghi chooses to resign during Rome’s political turmoil.

- Advertisement -spot_imgspot_img
- Advertisement -spot_imgspot_img

On Thursday, political turmoil returned to Rome with the government in a precarious situation and demands for Italian Prime Minister Mario Draghi to rethink his resignation.

Following a political party in his government coalition’s refusal to take part in a vote of confidence earlier in the day, Draghi announced on Thursday that he will resign immediately as the head of Italy.

According to a statement translated by Reuters, Draghi notified the Cabinet, “I will submit my resignation to the president of the republic this evening,” which put Italian politics back into a perilous position.

According to a statement from President Sergio Mattarella’s office, the Italian head of state later on Thursday rejected Draghi’s resignation and urged him to address Parliament to gain a comprehensive grasp of the political situation.

A new regulation aimed to decrease inflation and fight rising energy prices was initially opposed by the Five Star Movement, one of the parties in the coalition government led by Draghi. Despite Draghi’s warning to resign if Five Star didn’t support the comprehensive economic package, Italian lawmakers held a vote of confidence on it.

However, analysts said that internal party disputes are the actual cause of the opposition to this policy package, not so much an ideological one.

Wolfango Piccoli, co-president of the consultancy firm Teneo, said in a note on Thursday that “the M5S decision was largely triggered by instability prevailing within the ailing party rather than by meaningful policy differences with the government.”

After Mattarella’s rejection of Draghi’s resignation late Thursday, the former European Central Bank chief will now have to go back to Parliament to hold a vote of confidence in the government itself.

Draghi, despite still having a majority in the Italian Parliament without the support of the Five Star Movement, has previously said he would not be available to lead another executive.

- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img