Italy Risks Political Collapse as Draghi Urged to Rebuild Unity
- Draghi’s resignation offer was rejected by Italy’s president
- The prime minister will now work to verify coalition support
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With Italy on the brink of chaos, Mario Draghi has less than a week to forge some difficult compromises with the populists in his government that have reluctantly backed him for the past 18 months.
The prime minister’s decision to offer his resignation Thursday plunged the euro area’s third-largest economy in a paralyzing political crisis that may end with snap elections just as the country grapples with an energy crunch, rising borrowing costs and an escalating conflict in Ukraine.