Mario Draghi Confirmed as Italy's Next Prime Minister... Inauguration on the 13th

[Image source=EPA Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] Mario Draghi, former President of the European Central Bank (ECB), has been confirmed as Italy's next Prime Minister.

According to local media including ANSA news agency, on the evening of the 12th (local time), former President Draghi visited President Sergio Mattarella to report that he had secured majority support in parliament following consultations with political parties and officially expressed his intention to lead the next cabinet as Prime Minister.

Earlier, as the coalition government formed by the Five Star Movement (M5S), Democratic Party (PD), and Italia Viva (IV) collapsed and Prime Minister Giuseppe Conte resigned, deepening the political crisis, President Mattarella summoned former President Draghi on the 3rd and granted him the authority to form a cabinet.

Subsequently, Draghi held consultations with political parties twice, from the 4th to 6th and from the 8th to 9th, garnering support from almost all major parties regardless of left-right political ideology.

Not only the former coalition parties with a center-left orientation but also the far-right party Lega, the leader of the right-wing opposition coalition, and Forza Italia (FI), a center-right party led by former Prime Minister Silvio Berlusconi, declared full support for the Draghi cabinet.

So far, the only party refusing to accept the Draghi cabinet is Brothers of Italy (FdI), another far-right party within the right-wing coalition.

For former President Draghi, the formation of a national unity cabinet as initially hoped, along with support from more than two-thirds of the parliament, is seen as enabling smooth governance.

Draghi also submitted the list of ministers and deputy ministers of the new cabinet to President Mattarella. As expected, it was organized as a 'hybrid cabinet' composed of both professional bureaucrats and politicians.

Of the total 23 ministerial posts, 15 went to politicians and 8 to bureaucrats. Daniele Franco, Governor of the Bank of Italy, was appointed Minister of Economy and Finance, and Roberto Cingolani, a physicist and IT expert, was named Minister for Ecological Transition, a newly established department overseeing climate change response and green growth policies.

Roberto Speranza, Minister of Health, who has been leading the COVID-19 response, Luigi Di Maio, Minister of Foreign Affairs, and Luciana Lamorgese, Minister of the Interior, were retained. This appears to be based on the judgment that policy continuity is necessary.

Political figures from parties participating in the Draghi cabinet took at least one ministerial position each. Women accounted for 8 members, making up 34% of the cabinet.

The new cabinet is scheduled to receive its appointment letters from President Mattarella and officially take office on the 13th. Votes of confidence in both the Senate and the Chamber of Deputies on the new cabinet are expected next week and are anticipated to pass without major difficulties.

Prime Minister-designate Draghi is a leading Italian financial and economic expert who has served as a senior official at the Italian Ministry of Economy and Finance, Governor of the Bank of Italy, Executive Director of the World Bank, and Vice Chairman of the global investment bank Goldman Sachs.

Having served as ECB President for eight years from 2011, overseeing the EU's monetary policy, he is credited with saving the Eurozone (19 countries using the euro) during the Southern European debt crisis in 2012, earning the nickname 'Super Mario.'

Locally, there are high expectations that, just as he saved the Eurozone, he will revive Italy from its severe health and economic crises as Prime Minister.

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