Mario Draghi Saved the Euro, But Italian Politics Beat Him
- Resignation shatters unity that won him the premiership
- Former head of European Central Bank has been boon for markets
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Mario Draghi managed to keep the euro together at the height of the sovereign-debt crisis but he failed to keep Italian political parties in line -- just as the euro-zone grapples with a new energy and inflation crisis.
The premier resigned Thursday after three coalition allies withdrew their support for his government, shattering the unity which had propelled him into office in February 2021. Italy is likely to hold an early election in the fall, with a weakened Draghi continuing in a caretaker role to handle ongoing business until the ballot.