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Free AccessMNI: Italy's Coalition Seeks Late Move To Keep Draghi As PM
Anxious parties in Italy’s coalition government have reached an informal agreement giving themselves until Thursday to seek out alternative candidates for the presidency in a late move designed to keep Mario Draghi on as prime minister, senior party sources told MNI.
Draghi, however, remains in poll position for the presidency if no other agreed candidate emerges by Thursday.
After controversial ex-premier Silvio Berlusconi finally quit in his quest to become head of state, it has become clear that his Forza Italia party, the League and key sections of the Five Stars Movement would rather the former European Central Bank chief remain as premier.
Sources from the three parties told MNI that holding on to Draghi as the head of a ‘technocratic’ government would see early elections as a less likely option. Such an outcome would also avoid having a president in the Quirinale Palace seen as too powerful and interventionist in day-to-day government.
FRACTIOUS COALITION
But sources from both the centre-left Democrats and Five Stars say a Draghi move to the presidency is still the most likely outcome as divisions on the right make it very difficult to find an alternative candidate that pleases all coalition parties. Few names for a compromise presidential candidate are circulating, although one is Pier Ferdinando Casini, a past president of the House of Deputies, very much a centrist with roots in the former Christian Democrats.
Talks to find an acceptable prime minister should Draghi become president (MNI: Italian Politicians Eye Big Roles,Draghi Nears Presidency) have also been more difficult than expected. Draghi has been told by senior politicians including former prime minister Matteo Renzi that he must be more involved in negotiations to identify a new premier, despite potential constitutional obstacles, to help ensure a smooth transition to a fresh caretaker government should he does become president.
The Italian media reports that Draghi has met League leader Matteo Salvini and will meet with the leaders of other coalition parties later today. The hopes are for an agreement to be reached this week with the parties keen to avoid a drawn-out election for the presidency that would stoke rising political tension and instability.
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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.