Ex-Euro Banker Mario Draghi Set to Become Italy’s New PM

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Ex-Euro Banker Mario Draghi Set to Become Italy's New PM
Mario Draghi will be responsible for spending Italy's multi-billion EU investment fund - Image Source: Wikimedia

MARIO DRAGHI has won enough support to become Italy’s new Prime Minister, with the former top Euro banker set to take over the troubled country’s government.

Mario Draghi has met with Italian President Sergio Mattarella to announce that he has won enough support to form a government as Italy’s new Prime Minister.

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The 73-year-old Roman has secured support from almost all of the country’s major parties, who are seeking a quick resolution to a political crisis sparked by the recent collapse of Giuseppe Conte’s coalition government. The former chair of the European Central Bank is credited with saving the eurozone’s economy and will be tasked with spending the EU’s 200 billion euro Covid recovery fund.

Having received a mandate to form Italy’s next government, Draghi said that he would strive to unify the country’s political forces to focus on recovering from the pandemic. The already weak and debt-ridden Italian economy has been paralysed by months of lockdown while infection rates remain high across much of the country.

The previous government collapsed when former PM Matteo Renzi withdrew his party’s support of a coalition led by Giuseppe Conte – who has faced criticism for his handling of the crisis. Among the coalition’s main disputes was how to spend the vast EU recovery fund, which will now be the decision of Draghi and his new cabinet.



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