Free Trial

FI Senator-'The Idea Of Breaking [w/Draghi] Is In The Air'


Italy's Il Foglio reporting comments from Senator Andrea Cangini of the centre-right Forza Italia (FI) stating that 'the idea of breaking [with PM Mario Draghi] is in the air'. Comes as only the group leaders from the right-wing populist League and FI are set to speak in the confidence debate on Draghi's gov't.

  • Comes after Draghi delivered a withering address in the Senate, listing the achievements of his broad coalition gov't, but also calling out parties that he says have 'weakened the government's actions'. Here he referred to the 5-Star Movement's boycotting a confidence vote last week, saying that it broke the pact of confidence.
  • He then indirectly called out the League on three issues, stating that League "requests for further debt became stronger just when the need for attention to debt sustainability was greatest". He criticised the League's support for a taxi drivers' strike, saying that gov't parties should offer no "support for unauthorized, and sometimes violent, protests against the government majority." Finally he called out the League on Russia, saying "In foreign policy we have seen attempts to weaken the government's support for Ukraine, to weaken our opposition to President Putin's plan”.
  • Following his address M5S and League senators refused to offer applause for Draghi's speech, seen as an ominous sign ahead of this evening's vote. The loss of these parties' support would almost certainly see Draghi resign from office, likely presaging fresh elections.

To read the full story



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.