Italian Prime Minister Mario Draghi resigned

Italy’s President Sergio Mattarella dissolved parliament on Thursday, triggering a snap election following the resignation of the country’s Prime Minister Mario Draghi earlier in the day. The national election will take place on September 25. However, Draghi’s government will continue to function under a caretaker capacity till a new leader is elected. He was elected as Prime Minister of Italy in February 2021.

Draghi’s exit will also be a setback to the western alliance against Russia’s invasion of Ukraine. The Italian leader has taken an uncompromising stand towards Moscow and was a key architect of the tough sanctions against Russian President Vladimir Putin. Italy’s inflation rate hit 8 per cent in June, its highest level since 1986, according to the statistical agency. Faltering on a tight schedule of promised reforms would also jeopardise Rome’s ability to receive €200bn from the EU recovery fund.