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Elections avoided: Economist Mario Dragio forms a unity government in Italy

The Governor of the European Bank takes over the reins of the country from the corona plague and the economic crisis, and in the shadow of the slow operation of the vaccination campaign.

The next election is expected to take place within two years, but it will be difficult for him to survive at the head of a coalition that includes rival parties.

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• Italy

• Mario Draghi

Reuters

Saturday, February 13, 2021, 3:20 p.m.

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Seventh government in a decade.

New Italian Prime Minister Draghi (Photo: Reuters)

The President of Italy today (Saturday) swore in former European Bank Governor Mario Draghi as the unity prime minister set up to fight the corona plague and economic crisis.

All but one of the major parties have expressed support for him and his cabinet, which includes legislators from all corners of the political spectrum as well as professional figures in key positions, including the Ministry of Finance and the Ministry of the Environment.

On Draghi's shoulders will be the task of formulating Italy's recovery plan from the epidemic, which will also include € 200 billion in EU funds to rebuild the recession's economy.

If he succeeds, Draghi may strengthen the entire eurozone, which tends to sharply criticize Italy's economic problems.

In addition, its success will prove to the northern European countries that the transfer of large budgets to the poor countries in the south of the continent will strengthen the entire bloc.

However, he faces tremendous challenges.

Italy is in the heaviest recession since World War II;

Hundreds still die daily from corona, the vaccination campaign is lame and he has limited time to find a solution.

Elections in Italy are set to take place within two years, but it is difficult to know at this time whether Draghi will be able to survive as head of a coalition that includes parties with radical opposing positions on immigration, the judiciary, infrastructure development and welfare.

Draghi will be Italy's 67th prime minister since 1946, and the seventh in just the last decade, a testament to Italy's political instability.

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