'Super Mario' Draghi Steps Up as Italy's Closer... "Likely to Be Appointed Prime Minister"

Draghi Appointed as New Prime Minister After Failure to Form Coalition
Praised for Successfully Overcoming 'Southern Europe Financial Crisis' as ECB President
Opposition Parties in Italy Continue to Resist... "Concerns Over Greater Chaos"

[Image source=AP Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] As Italy's political crisis following the collapse of the coalition government enters its third week, former European Central Bank (ECB) President Mario Draghi has rapidly emerged as the new candidate for Italy's prime minister. Draghi, who was previously called "Super Mario" for successfully averting the Southern European financial crisis in 2011, has long been considered a potential future prime minister in Italian politics. However, concerns remain that it will be difficult to reach a political consensus amid strong opposition from opposition parties.

According to the Associated Press and major foreign media, Italian President Sergio Mattarella, in a national address at the Quirinal Palace, the presidential residence, on the 2nd (local time), stated, "Prime Minister Conte has failed in negotiations to form a new coalition government," and emphasized, "Given the current COVID-19 situation, early elections are difficult, and a respected figure will be entrusted with forming a national unity government."

The respected figure mentioned by President Mattarella was revealed to be former President Draghi. On the same day, Draghi was summoned to the Quirinal Palace and is scheduled to meet with President Mattarella on the 3rd. It is expected that during the meeting, President Mattarella will effectively nominate Draghi as the next prime minister and grant him the authority to form a cabinet.

Former President Draghi is a representative financial and economic bureaucrat of Italy, having served as a senior official at the Italian Ministry of Finance, Governor of the Bank of Italy, Executive Director of the World Bank, Vice Chairman of Goldman Sachs, and was appointed ECB President in 2011. He is especially recognized for successfully resolving the Southern European financial crisis during his tenure as ECB President, earning the nickname "Super Mario" worldwide.

In Italian politics, it is expected that if Draghi becomes prime minister, the next cabinet will be composed with a practical focus on crisis management. However, there are concerns that the Draghi cabinet will face difficulties in being smoothly established, as opposition parties that previously participated in the coalition, such as the Five Star Movement, strongly reject a prime minister from an elite bureaucratic background.

The Democratic Party, a centrist-left party that was a mainstay of the previous coalition, also expressed concerns. Andrea Orlando, Deputy Leader of the Democratic Party, warned, "It will not be easy for former President Draghi to reach a political consensus," adding, "It could rather cause greater confusion."

Meanwhile, Italy has been governed by a coalition formed by the cabinet led by independent Prime Minister Giuseppe Conte, along with the centrist-left Democratic Party, the largest party in parliament, the Five Star Movement, and the newly established party Viva Italia led by former Prime Minister Matteo Renzi.

This content was produced with the assistance of AI translation services.