Free Trial

Draghi Govt On Brink Of Collapse

ITALY

The center-right of the Italian governing coalition has deserted Prime Minister Mario Draghi in a confidence vote, raising the prospect of an Autumn general election if an alternate government cannot be formed.

  • Bloomberg: "Italy's government is on the cusp of collapse as parties refuse to back PM Mario Draghi in a confidence vote."
  • Silvia Sciorilli Borrelli of FT: "Draghi is back in the chamber. We just heard the League and Berlusconi’s Forza Italia will not back the motion to support the government and they will walk out. 5 Star now speaking and likely to follow suit."
  • Jordi Barcia at RNE: "Berlusconi's Forza Italia announces that it will not vote to trust the PM, and the League has just done the same. They are fundamental legs of the government of national unity. Without them, Mario Draghi heads for the definitive resignation."
  • It is currently unclear if quorum can be achieved and there is now a strong likelihood that Draghi will resign before a second attempt in the Senate at a confidence vote.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.