On Saturday, the former president of the European Central Bank, Mario Draghi, is expected to conclude in Rome a first round of fruitful consultations in an effort to form a parliamentary majority and get Italy out of the political impasse, which is also facing an economic and health crisis.
After the resignation of Prime Minister Giuseppe Conte following the withdrawal of a major party in his alliance, President Sergio Mattarella commissioned Mario Draghi, nicknamed “Super Mario” for his role in saving the euro area in 2012 during the debt crisis, to form a new government.
He hopes to include in his government parties from different poles in the political scene, from the Democratic Party (center-left) to the League (extreme right) led by Matteo Salvini in a transitional government charged with implementing an economic recovery plan and the vaccination campaign against the Covid-19 epidemic that has so far caused more deaths. Of 90 thousand people.
Draghi has already enjoyed the support of small parties and parliamentary blocs, the Democratic Party and the centrist “Italy Fifa” party led by former Prime Minister Matteo Renzi, who was behind the disintegration of the outgoing government after he withdrew his ministers due to a dispute over the revival plan.
The party of former Prime Minister Silvio Berlusconi, leader of the “Italy Forward” party (Forza Italia-Center-Right) pledged its support.
Italy is hoping to secure the lion’s share – about 200 billion euros – from the European Recovery Fund, which was adopted in July, but has to present a detailed spending plan for Brussels by the end of April.
The third economy in the eurozone is facing difficulties due to the devastating effects of the Corona pandemic. In 2020, Italy recorded one of the worst GDP decline in the euro area, at a rate of 8.9%.
Italy was the first European country affected by the pandemic, which imposed strict isolation in March and April, which paralyzed a large part of its economic fabric.
In the event that Draghi does not succeed in obtaining a parliamentary majority or if he does not gain the confidence of Parliament after assuming his duties, a solution may be proposed to hold early legislative elections.
President Mattarella, the only one empowered to call for legislative elections ahead of their scheduled date of 2023, made it clear Tuesday that he wanted to avoid an early vote in the midst of a health and economic crisis.