Mario Draghi is Back, this Time as the Prime Minister of Italy
Skerdian Meta • 1 min read
Italian politics are strange, as we know; there have almost as many prime ministers in Italy since the end of WW2 than the number of years since then. A year and a half ago Mateo Salvini was ousted, to be succeeded by Conte, whose government also fell a while ago. Now a new prime minister is taking office, although he’s already well known in Europe, especially in the finance world.
Super Mario is back, and the market continues to show a vote of confidence in him as BTPs push higher, with yields falling to a record low during the European morning today. The ECB also has a helping hand in all of this, but the market is certainly liking the idea of Italian politics having a familiar figure at the helm.
Meanwhile, the all-time supreme leader of Italy, Silvio Berlusconi, is supporting Mario Draghi. He said earlier today that Draghi saved the Euro and has great capacity to manage difficult situations. Berlusconi also added that the decision to back Draghi is “an act of wisdom that will also be appreciated in Europe”.