Despite the boycott of three parties, the Italian Senate gives confidence to Mario Draghi

Prime Minister Mario Draghi received, on Wednesday, the confidence of the Senate despite the non-participation in the vote of three parties belonging to his coalition: Forza Italia, the League and the 5-Star Movement. The head of the Italian government submitted his resignation last week, but the President of the Republic, Sergio Mattarella, refused it.

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Is the Italian government on the verge of implosion? Forza Italia, the League, the 5-Star Movement, partners in the coalition led by Mario Draghi decided on Wednesday July 20 not to take part in the vote of confidence that the Prime Minister had requested in the hope of ending the divisions and to relaunch their alliance.

Even if he obtained confidence, these mass desertions should logically lead to the resignation of Mario Draghi, who had said he was ready before parliament to remain in his post, on the condition, however, that the parties of his coalition return to the rank around a government “pact”, already jeopardized last week by a first defection from the M5S.

Mario Draghi spoke during the day before Parliament, at the request of the President of the Republic, Sergio Mattarella, in the hope of reviving the coalition in power in Rome for eighteen months and avoiding early legislative elections. .

“The only solution, if we still want to stay together, is to rebuild this pact from its foundations, with courage, altruism and credibility,” he told the Senate. “That’s what the Italians are asking for.”

 

“Italy is strong when it is united,” he insisted. The internal (economic recovery, inflation, employment) and external (energy independence, war in Ukraine) challenges facing Italy and the EU “require a truly strong and united government and a Parliament that accompanies it with conviction”.

The former head of the European Central Bank (ECB) had once again called on the coalition parties for unity, as Italy faces a range of issues, including the war in Ukraine, social inequalities and the ‘inflation.

The conservative parties had declared on Wednesday that they would only remain in the government if the M5S was no longer part of it, asking in a press release for a major government reshuffle.

The government in the hot seat
According to polls, the majority of Italians want ‘Super Mario’ to remain at the helm of his broad coalition of national unity, which spans the left and far right.

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Arrived at the head of the executive in February 2021 to get Italy out of the health and economic crisis, Mario Draghi presented his resignation on July 14 to the President of the Republic Sergio Mattarella, who immediately refused it.

Whatever the outcome of this Italian-style political soap opera, the rating agency Fitch believes that it “is a symptom of greater political uncertainty, even if early elections are avoided”, making structural reforms and even more difficult taxes while Brussels and its European partners are also pressing Mario Draghi, a guarantee of stability, to stay.

The markets are carefully scrutinizing the situation. Italy’s cost of debt has risen again and the Milan Stock Exchange was down on Wednesday, a sign of market jitters over uncertainty in the euro zone’s third-largest economy.

A vote of confidence must be organized Thursday in the Chamber of Deputies.