Italy: Mario Draghi will try to form a new government …

From Rome

Italian President Sergio Mattarella has entrusted the responsibility of forming a new government to economist and distinguished figure Mario DraghiAfter the talks between the president and the parties of the center-left coalition (Democratic Party, Five Star Movement, Free and Equal, Europeanists and Italia Viva) which still supported Prime Minister Giuseppe Conte, did not yield any results.

Draghi was summoned by President Mattarella to the Quirinale Palace at noon on Wednesday and on leaving the meeting told reporters that he had accepted the mission “subject to”. This means that he accepts it provisionally and when he can verify with the political parties that a government which belongs to him is viable because he obtains the support of Parliament, he will certainly accept it. “I hope that from the dialogue with the parties, parliamentary groups and social forces, a unity will emerge and with it the capacity to give a responsible and positive response to the call of the President of the Republic”, a- he declared. Draghi. “Awareness of the emergency we are living requires a response commensurate with the situation (…) overcoming the pandemic, ending the vaccination campaign, offering answers to the daily problems of citizens and reviving the country are the challenges that introduce themselves, ”Draghi told reporters after spending just over an hour with President Mattarella.

University professor and economist, Director of the Bank of Italy (central bank) from 2005 to 2011, Director of the European Central Bank from 2011 to 2019 and recently appointed by Pope Francis as member of the Vatican Academy of Social Sciences, Draghi is for many the ideal candidate because of his technical qualities to solve the difficult health, social and economic crisis that Italy is going through due to covid-19.

How much the business world trusts Draghi was demonstrated almost immediately by the performance of the Milan Stock Exchange, which gained 2% on Wednesday, and the very positive drop in the so-called spread. (the difference in performance of Italian government securities compared to German securities) which fell from 112 points yesterday to 103 today.

Mattarella, when yesterday officially announced that there was no possibility of setting up a third Conte government, spoke of the need for a high-level government and on the fringes of politics because it was not possible to go to the elections at this time for all the time (several months) that one would have to wait for the new government to take office and take the urgent decisions that Italy needs today.

After leaving the Quirinale, Draghi met with the Speaker of the Chamber of Deputies Roberto Fico (whom President Matarella had commissioned to conduct a review to see if Conte still had sufficient support and was negative), with the President of the Senate, Maria Elisabetta Alberti Casellati, and with Prime Minister Conte (who will remain in office until the new government is accepted by Parliament). Draghi will meet with leaders of all political parties in the coming days.

If it succeeds in getting a government to vote and Parliament votes in favor, it will be the fourth “technical” government, that is to say non-political, that Italy had in the history of the Italian Republic which began after World War II. In some technical governments, the parties had a representative in the ministries, but they were still highly qualified for the role they had to play.

The question many are asking now is how political parties will react. The Democratic Party (center left) has already shown its total disposition. “We are open to dialogue to guarantee the common good of the country,” said PD secretary Nicola Zingaretti.

The five-star movement (M5S) is rather divided. Apparently, on the orders of its founder, Beppe Grillo, many are saying NO to the Draghi government ”, to which some, like the leader Alessandro Di Battista, have dubbed him “the apostle of the elite”. Current M5S political leader Vito Crimi doesn’t think M5S should vote for the Draghi government. Anyway, Thursday, the M5S has scheduled an assembly where it will decide the position to take. On the other hand, Matteo Renzi and his party, Italia Viva, which caused the government crisis that led Italy to this situation, are said to be in favor of Draghi.

The right is divided, but not so much. Forza Italia, the party of Silvio Berlusconi, would be favorable to the future Prime Minister, whom Berlusconi appreciates personally. Matteo Salvini of the League says he will accept it as long as the proposals they make to revive the country are taken into account. Georgia Meloni from Fratelli d’Italia, expressed her willingness to “work for the good of the nation”.

Meanwhile, the international press speaks of the “Super Mario” called to help his own country, after having saved the euro when he was at the European Central Bank and thanks to which the European economy has acquired more stability and credibility. . This has been pointed out by newspapers such as Times Yes Financial Times from London, The Wall Street Journal, The New York Times Yes The Washington Post the United States.