Mario Draghi, Prime Minister of Italy, resigns due to the collapse of the coalition

Draghi’s resignation comes after several key parties in his coalition – the powerful 5 Star Movement, the largest party in the country’s coalition government, the center-right Forza Italia and the far-right Liga – boycotted a vote of confidence in the government on Wednesday night. .

Mattarella, who has accepted his resignation, is scheduled to meet with the Speakers of Parliament on Thursday afternoon, the presidential palace said in a statement. The next step is to announce early elections.

Last week, Draghi resigned for the first time after the 5-Star movement withdrew its support in a parliamentary vote of confidence in a package designed to tackle Italy’s cost-of-living crisis. Draghi has previously stated that he will not lead a government that does not include 5-Star.

However, this resignation was rejected by Italian President Sergio Mattarella, who urged him to stay and find a solution.

On Thursday, FTSEMIB, Italy’s main stock market, fell more than 2.5% after the country’s government was on the verge of collapse.

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