Europe’s Resignation Wave Hit Italy As Prime Minister Mario Draghi Resigns

The Prime Minister of Italy, Mario Draghi, is on his way out of office.

The decision of the former president of the European Central Bank (ECB) followed the crack in the nation’s leadership.

“The pact of trust that this government’s actions have been founded on came undone”, said a statement on Thursday by Draghi’s office.

The communication noted that the conditions to carry out the administration priorities “no longer exist”.

The PM’s fate was sealed after senators from Five Star Movement – one of the biggest parties in the coalition government – shunned a confidence motion.

The lawmakers oppose a bill aimed at helping businesses and households with high energy prices.

Draghi earlier said a walkout against the vote meant the government had crumbled and hinted that he would quit.

The economist was appointed PM by President Sergio Mattarella on February 13, 2021 after the resignation of Giuseppe Conte.

The exit of 74-year-old Draghi is the second in one week in an European country.

British Prime Minister Boris Johnson did the same on July 7 after dozens of his ministers stepped down.

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