Former ECB Chief Mario Draghi Tapped to Lead Italy Out of Its Crisis
- President Mattarella summons Draghi at noon on Wednesday
- Bonds rally, sending Italy’s 10-year yield to a two-week low
This article is for subscribers only.
Former European Central Bank President Mario Draghi has been tapped to become Italy’s next prime minister with a broad mandate to try and steer the virus-battered country out of its worst recession since the end of World War II.
President Sergio Mattarella will meet Draghi at midday on Wednesday after two rounds of talks failed to seal a deal among parties for a new government led by Giuseppe Conte, who had hoped to return to lead his third administration. Instead, the president is poised to formally ask Draghi to try to form a government.