Italian prime minister pens resignation after losing coalition support

President rejected the decision

clock • 2 min read
Mario Draghi, Italy's prime minister
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Mario Draghi, Italy's prime minister

Mario Draghi has tendered his resignation as Italy’s prime minister after his government coalition failure.

Draghi offered his resignation late last night (14 July) after the second biggest party in his coalition, populist group Five Star Movement, withdrew its support in a confidence vote. However, Draghi's resignation has been rejected by Italy's president Sergio Mattarella, creating some uncertainty as to what will happen next. The former head of the European Central Bank has spearheaded a unity government in Italy since early 2021. Investment Week reveals winners of Fund Manager of the Year Awards 2022 In his statement, he said that the "the loyalty agreement that was the foundati...

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