His resignation brings an end to a government seen to have had a once-in-a-generation opportunity to unlock the nation’s economic potential and set it on a higher growth trajectory.
| Italian prime minister Mario Draghi has resigned, bringing an end to a national unity government seen to have had a rare opportunity to bring stability and unlock the nation’s economic potential.
The yield on Italy’s 10-year government bond jumped 0.14 percentage points to 3.52 per cent, as its price dropped sharply on Thursday. That move took the gap between Italian and German benchmark 10-year yields - a closely watched gauge of market stress - to 2.26 percentage points, reflecting a widening of 0.22 percentage points in just two days.
“We played with the future of Italians,” Mr Di Maio said in a tweet after Wednesday’s developments. “The effects of this tragic choice will remain in history.” Many of these reforms were expected to be completed by elections scheduled for next spring. But the process is likely to be put on hold, as parties gear up to campaign for early elections.
Mr Berlusconi, a former prime minister, had close personal ties with Mr Putin, with whom he once went on holiday, while Mr Salvini has been an admirer of the Russian leader.Urbane, cosmopolitan and softly spoken, Mr Draghi has never made a drama out of a crisis.
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