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HomenewsItaly Ponders a New Role for Draghi. Let the Politicking Begin.

Italy Ponders a New Role for Draghi. Let the Politicking Begin.


The secrecy, and self-interested nature, of the vote makes it ripe for influence peddling. In recent days, opening gambits took the form of government-collapsing ultimatums, with Mr. Berlusconi saying that he would pull his party out of government if Mr. Draghi became president.

Secret negotiations between the nationalist League, led by Matteo Salvini, and the center-left Democratic Party, are already underway, with the aim of avoiding new elections, possibly by keeping Mr. Draghi as prime minister of a government consisting of political leaders rather than technocrats.

Many, though perhaps not Mr. Draghi, are hoping that after sufficient votes fail to materialize for presidential hopefuls in opening ballots, a reluctant Mr. Mattarella, 80, can be persuaded by a broad alliance to serve another term, or at least to stick around for a couple more years and leave a new term early.

In theory, that would allow Mr. Draghi to defer his dream job until after the vital recovery fund programs have been put in place. But a year or two is an eternity in constantly evolving Italian politics.

Mr. Draghi, no political neophyte, has added his own pressure, asking the political parties if it was at all imaginable for a government that splinters on the choice of a president — be it him or anyone else — to “come back together magically” to run the country.

But even Mr. Draghi has not been untarnished by the political sniping. His backers say that he has become a more politically cautious broker between the bickering parties than their firm leader. In his most recent news conference, the prime minister sounded defensive, insisting that he was the one really making decisions. His honeymoon period seems to have ended.

“There is a lot of noise in the system because of this presidential race,” Mr. Colao said, nevertheless acknowledging that political pressure had “on the margins” increased the urgency of getting modernizing projects into the pipeline.



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MD Abdullah
Abdullah is a former educator, lifelong money nerd, and a Plutus Award-winning freelance writer who specializes in the scientific research behind irrational money behaviors. Her background in education allows her to make complex financial topics relatable and easily understood by the layperson. She is the author of four books, including End Financial Stress Now and The Five Years Before You Retire.
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