Davos Loses Big Time — Draghi On the Way Out In Italy
Davos Loses Big Time — Draghi On the Way Out In Italy Tom Luongo Italian Prime Minister Mario Draghi is out. He tendered his resignation to President Sergio Mattarella. Mattarella is refusing for now. There will be another confidence vote. It shouldn’t matter. As is always the case with Italian politics, the story is always far murkier than the headline. The headline is Five Star Movement (M5S) leader Giuseppe Conte could no longer back Draghi’s government because he’s doing nothing to deal with spiraling food and energy costs in Italy. Without M5S support it will be difficult, at best, for Draghi to maintain power. The parties which ‘won’ the last election are now polling 3rd and 4th. M5S is now polling at just 12%. Lega just 15%. It is Georgia Meloni’s Brothers of Italy that lead the polls. And we are, at most nine months away from Italian elections. I’d say nine weeks is more likely. So, M5S and Conte making this move now is not in their favor. This implies something far ...