Draghi’s Unity Coalition on the Cusp of Collapse: Italy Update
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The center-right League party will join Silvio Berlusconi’s Forza Italia in skipping a confidence vote over Prime Minister Mario Draghi’s government, raising the prospect the coalition will collapse and of snap elections as soon as the fall.
Draghi said last week he wanted to resign because he didn’t have the backing of his coalition, particularly Giuseppe Conte’s Five Star Movement. Markets rallied after a morning speech by Draghi before paring gains after the alliance’s center-right parties refused to remain in government with Five Star.