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Italian PM Draghi looks doomed after parties snub confidence vote

21 Tháng Bảy 2022

By Giuseppe Fonte and Angelo Amante

ROME (Reuters) - Italy's government imploded on Wednesday when some of Prime Minister Mario Draghi's main coalition partners snubbed a confidence vote he had called to try to end divisions and renew their alliance.

On the right, Forza Italia and the League parties said they would not take part in the vote in the upper house of parliament.

They were joined in their boycott by the populist 5-Star Movement which also said it would shun the vote, having set off Italy's latest political crisis with a similar boycott last week.

Draghi had tendered his resignation last week, but President Sergio Mattarella turned him down and told him to go before parliament to see if he could revive the 18-month-old administration.

Speaking to the upper house, Draghi set out a series of issues facing Italy ranging from the war in Ukraine to social inequality and rising prices, and said political parties needed to get behind him if he was to steer the country to elections due in the first half of 2023.

"The only way, if we want to stay together, is to rebuild this pact, with courage, altruism and credibility," Draghi said in an uncompromising speech to the Senate, adding that many Italians wanted the coalition to carry on.

But his call for unity appeared to have fallen on deaf ears, as conservative parties within the coalition said they would remain in the cabinet only if 5-Star was excluded.

If Draghi decides there is not sufficient unity in his coalition, he will almost certainly resign, opening the way for early elections in September or October.

"The Italian parliament has gone against the will of the people," the head of Italy's centre-left Democratic Party (PD), another coalition party, said on Wednesday.

"Italians will show themselves to be wiser at the ballot box than their politicians," PD chief Enrico Letta wrote on Twitter (NYSE:TWTR), signalling that he expected early elections to be called to break the impasse.

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12-08-2022 16:12:05 (UTC+7)

EUR/USD

1.0299

-0.0019 (-0.18%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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EUR/USD

1.0299

-0.0019 (-0.18%)

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↑ Sell

Moving Avg:

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GBP/USD

1.2159

-0.0053 (-0.43%)

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Sell (10)

USD/JPY

133.29

+0.29 (+0.22%)

Summary

↑ Buy

Moving Avg:

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Buy (7)

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AUD/USD

0.7114

+0.0009 (+0.13%)

Summary

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Buy (1)

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USD/CAD

1.2759

-0.0003 (-0.02%)

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EUR/JPY

137.27

+0.05 (+0.04%)

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EUR/CHF

0.9699

-0.0006 (-0.06%)

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Gold Futures

1,802.45

-4.75 (-0.26%)

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Sell

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Sell (7)

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Silver Futures

20.282

-0.067 (-0.33%)

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Copper Futures

3.6958

-0.0107 (-0.29%)

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Crude Oil WTI Futures

94.33

-0.01 (-0.01%)

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Brent Oil Futures

99.88

+0.28 (+0.28%)

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Natural Gas Futures

8.708

-0.166 (-1.87%)

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US Coffee C Futures

221.73

-1.80 (-0.81%)

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Indicators:

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Euro Stoxx 50

3,768.55

+11.50 (+0.31%)

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↑ Sell

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Sell (9)

Indicators:

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S&P 500

4,207.27

-2.97 (-0.07%)

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Buy

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DAX

13,752.04

+57.53 (+0.42%)

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FTSE 100

7,506.90

+40.99 (+0.55%)

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Sell (9)

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20,175.62

+93.19 (+0.46%)

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US Small Cap 2000

1,975.26

+6.01 (+0.31%)

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↑ Buy

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IBEX 35

8,439.01

+59.01 (+0.70%)

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Sell (8)

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Sell (8)

BASF SE NA O.N.

43.890

+0.465 (+1.07%)

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↑ Sell

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Sell (8)

Bayer AG NA

53.95

+2.27 (+4.39%)

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Buy

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Allianz SE VNA O.N.

180.90

+1.90 (+1.06%)

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Neutral

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Adidas AG

170.97

-1.05 (-0.61%)

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Deutsche Lufthansa AG

6.588

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111.55

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8.982

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 EUR/USD1.0299↑ Sell
 GBP/USD1.2159↑ Sell
 USD/JPY133.29↑ Buy
 AUD/USD0.7114↑ Sell
 USD/CAD1.2759↑ Buy
 EUR/JPY137.27↑ Sell
 EUR/CHF0.9699↑ Buy
 Gold1,802.45Sell
 Silver20.282↑ Sell
 Copper3.6958↑ Sell
 Crude Oil WTI94.33↑ Buy
 Brent Oil99.88↑ Buy
 Natural Gas8.708↑ Buy
 US Coffee C221.73↑ Sell
 Euro Stoxx 503,768.55↑ Sell
 S&P 5004,207.27Buy
 DAX13,752.04↑ Sell
 FTSE 1007,506.90↑ Sell
 Hang Seng20,175.62↑ Buy
 Small Cap 20001,975.26↑ Buy
 IBEX 358,439.01↑ Sell
 BASF43.890↑ Sell
 Bayer53.95Buy
 Allianz180.90Neutral
 Adidas170.97↑ Sell
 Lufthansa6.588↑ Sell
 Siemens AG111.55↑ Sell
 Deutsche Bank AG8.982↑ Sell
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