Mario Draghi Earns His Summer Vacation
Italy’s prime minister appeared to be headed for political tumult after an inspiring first six months. But he’s won a big challenge in a most timely manner.
Italian Prime Minister Mario Draghi
Photographer: GREGORIO BORGIA/AFPMario Draghi scored big just as he appeared to be on the point of foundering. Six months after taking office, Italy’s prime minister (and former president of the European Central Bank) continues to beat the odds and deliver reforms that have eluded Italy for decades.
For 30 years, Italian politicians failed in their efforts to repair the criminal and civil legal system, one of the slowest in Europe. Civil cases, for example, take an average of seven years to reach a conclusion. The sluggishness has been blamed for dampening foreign and domestic investment. It has doubtless contributed to two decades of economic decline. Speeding up the system has long been seen as key to boosting growth. It’s for this reason that Brussels made justice reform a condition for Italy to receive more than 200 billion euros ($237 billion) in loans and grants from the post-pandemic NextGenEU fund.