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Mario Draghi resigns as the Prime Minister of Italy

Tags: Person in news International News

The unelected Italian Prime Minister Mario Draghi, heading a national unity government for the last 18 months, resigned on 21 July 2022 after his national unity government lost the majority in the Parliament. President Sergio Mattarella asked him to remain as caretaker leader and early elections are expected this autumn.

  • Mario Draghi is not a politician and was a banker. He was the head of the European Central Bank and he is also known as super Mario for his handling of the Eurozone crisis as head of the European Central Bank.
  • Eurozone, also called the euro area, is a monetary union of 19 European Union countries which has adopted euro as its legal tender or currency.
  • In February 2021, he was appointed as the Prime Minister of Italy. He was heading a national unity government of various political parties. He was given the task of guiding Italy through the Covid pandemic and economic recovery, supported by a package from the European Union.
  • Draghi's coalition government crumbled on 20 July 2022, when three of his main partners refused to support him on a confidence vote he had called to try to end divisions and renew their alliance.
  • The political crisis has up-ended months of stability in Italy, during which Draghi had helped shape Europe's tough response to Russia's invasion of Ukraine and had boosted the country's standing in financial markets.

Republic of Italy 

It lies in south-central Europe along the Mediterranean Sea.

It is the member of G-7, G-20 and European Union 

Capital: Rome 

Currency: Euro 

President:  Sergio Mattarella 

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