Italian Parliament Is Dissolved, Elections May Take Place Soon

An early election is likely to take place in Italy as President Sergio Mattarella has reportedly dissolved the Parliament following Premier Mario Draghi’s resignation.

Mr. Draghi resigned on Thursday after his ruling coalition fell apart. The moves dealt a destabilizing blow to Italy and Europe at a time of inflation and economic uncertainty brought on by the coronavirus pandemic and Russia’s war in Ukraine.

No date was set but President Sergio Mattarella said the new election must be held within 70 days under Italy’s Constitution.

He said he took the step because of the lack of support for Mr. Draghi and also indicated there was “no possibility” of forming another government that could carry a majority.

Parliament’s five-year term would have expired in March 2023.

Mr. Draghi tendered his resignation to Mr. Mattarella during a morning meeting at the Quirinale Palace. Mr. Mattarella, who rejected a similar resignation offer from the premier last week, asked Mr. Draghi’s government to remain on in a caretaker capacity, the president’s office said.

Italy is facing soaring prices for everything from food to household utilities as a result of Moscow’s invasion. It is also suffering through a prolonged drought that is threatening crops and struggling to implement its EU-financed pandemic recovery program.

Any instability in Italy could ripple out to the rest of Europe, also facing economic trouble, and deprive the EU of a respected statesman as it seeks to keep up a united front against Russia.

Mr. Draghi, who is not a politician but a former central banker, was brought in 17 months ago to navigate the economic downturn caused by COVID-19. But his government of national unity imploded on Wednesday after members of his uneasy coalition of right, left and populists rebuffed his appeal to the band back together to finish the Parliament’s natural term.

Instead, the center-right Forza Italia and League parties and the populist 5-Star Movement boycotted a confidence vote in the Senate.

“Thank you for all the work done together in this period,” Mr. Draghi told the lower Chamber of Deputies on Thursday morning before going to see Mattarella.

Dubbed “Super Mario” for helping to lead the eurozone out of its debt crisis when he was head of the European Central Bank, Mr. Draghi played a similar calming role in Italy in recent months.

His presence helped reassure financial markets about the debt-laden nation’s public finances, and he managed to keep the country on track with economic reforms that the EU made a condition of its 200 billion-euro (£170 billion) pandemic recovery package.

He was a staunch supporter of Ukraine and became a leading voice in Europe’s response to Russia’s invasion — one of the issues that contributed to his downfall since the 5-Stars rankled at Italian military help for Ukraine.

While he could not keep his fractious coalition together, Mr. Draghi appeared to still have broad support among the Italian public, many of whom have taken to the streets or signed open letters in recent weeks to plead with him to stay on.