Italy ends voting deadlock by re-electing Sergio Mattarella as president, keeping Mario Draghi as prime minister

Six days of voting filled with squabbling, confusion and backroom manoeuvring left the leadership of the Italian government exactly where it was before this week’s presidential election.

Mario Draghi, the unelected Prime Minister who coveted Mr. Mattarella’s job, failed to receive cross-party endorsement for his own presidential bid, partly because many parties wanted him to remain in his current job. He will stay on as head of government. “Everyone is assuming that, with Mattarella once again as President, and Draghi as Prime Minister, the situation will remain as is,” he said. “But that is probably not so straightforward. We need to understand whether the key ingredient of Draghi’s government, a broad cross-partisan majority, will still be there in a few days.”

Some of them were unlikely, long-shot names. One was the head of the Italian secret service. Another was Silvio Berlusconi, the four-time former prime minister who is infamous for his “bunga bunga” sex parties and tax fraud conviction. Initially supported by some of the main parties on the right, he withdrew his candidacy just before the election started, but still received some votes.

Mr. Draghi is the former president of the European Central Bank and is widely credited with saving the euro from ruin during the debt crisis a decade ago, when Greece almost left the common currency and Italy was on the verge of being unable to fund itself in the sovereign debt markets. In the first year of the pandemic, when Italy was the first in Europe to bear the brunt of COVID-19, Mr. Draghi, now 74, was in retirement and not contemplating another demanding, high-profile career.

Where Luigi at?

HyperCapSoc The Downside: 1. The Exodus & The UnSeamless Transition 2. Judgment Day: Fearful-Despots & Anarchy 3. The Fix is Down. The Gougers Crunch 4. The Price of Peace: No Hell-or-Coppa's Money 5. The Wall Street War(s) & Makeup of the Multi-National Investment Portfolio!

HyperCapSoc: The Upside: 1. Elimination of all Corporate Debt 2. The End of All Taxation 3. Everyone O-18 is a Millionaire - 5.2B! 4. The Exodus & Mass Reduction in Labor Costs 5. The Mega-Mergers 6. ProdCost Reductions & Roboticization 7. Access to Every Node at a Penny-Per

Italy, of course, will do well to keep Draghi after HyperCapSoc. At least until the makeup of the MN-IPs.

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