Mario Draghi wins the support of Five-Star Movement

Prime Minister appointed Mario Draghi.

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LONDON – Mario Draghi has received enough support from Italian lawmakers and will now most likely lead that country’s next government.

Members of the left-wing Five Star Movement chose to support Prime Minister Draghi in an online poll held Thursday, with 59.3% backing the former chief of the European Central Bank. Draghi seems to have a solid majority in Rome and no party could derail his government.

He will now receive confidence votes in parliament next week and will present his cabinet to the president on Friday.

Draghi was called upon to resolve a political crisis in the third largest euro economy. The chaos started when a small party called Italia Viva withdrew its support for the fragile coalition government. This meant that the pro-EU cabinet lost the necessary working majority in the Italian parliament, raising the prospect of quick elections at a time of severe health and economic crisis.

After meeting with Italian President Sergio Mattarella last week, Draghi agreed to try to form a government of national unity. Known for saving the euro in the throes of a sovereign debt crisis, Draghi faces the daunting task of leading the economic recovery of his own country.

A Draghi-led government, albeit more technocratic than political, would avoid the need for quick elections, something most mainstream politicians want to avoid. Polls show that the Lega Party against Immigration would win the most votes in an election and could potentially form an alliance with the far-right Brothers of Italy party.

In addition to the Five Star Movement, the Centrist Democratic Party and Italia have also supported Viva Draghi. Matteo Renzi, the leader of Italia Viva, told CNBC last week that he believes the country will be in “very good hands” with Draghi.

“I am so happy because Italy is in very good hands today,” said Renzi. “Mario Draghi was the Italian who saved the euro. Now I think he will be the European who will save Italy,” he added.

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