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EU bank former boss, Draghi, becomes Italy’s new prime minister 

Williams Babalola
Former European Central Bank boss, Mario Draghi, has been sworn-in as Italy‘s next Prime Minister, putting an end to weeks of deadlock in political activities of the country.
Draghi was sworn in by President Sergio Mattarella at Rome’s Quirinale palace, with limited attendance because of COVID-19 laid down protocols.
At the inauguration ceremony, Draghi vowed to respect the laws of Italy, saying, “I swear to be loyal to the Republic.”
He immediately assembled a government involving almost all of Italy’s political parties. His Cabinet is a mix of technocrats, veteran politicians and existing ministers.
He retained the Leader of the 5-Star Movement, Luigi Di Maio, as foreign minister.
Giancarlo Giorgetti, a senior figure in the populist far-right League party, will be industry minister. Andrea Orlando, from the centre-left Democratic Party, will be labour minister.
The previous government led by PM Giuseppe Conte was thrown into chaos amid a row over how to spend EU COVID-19 recovery funds as the country continues to struggle with the virus and face its worst economic crisis in a long time.
One of the first assignments of the former bank chief is to supervise the spending of over €200 billion ($242 billion) in European Union recovery funds, an effort to boost the country failing economy.
The economist has enjoyed several support and encouraging work across the globe.
Former Italian Prime Minister, Matteo Renzi, said during the BBC’s Newshour programme last week that, “Mario Draghi was the Italian who saved Europe, and I think now he is the European who can save Italy.”
Also, Francesco Clementi, a professor of comparative public law at Perugia University said, “This is a government with a clear European and Atlantist profile. The ministers’ list shows great awareness of the technical difficulty of governing in these difficult times, but also of the political perils that bring together very different parties.”
The pandemic, which hit Italy one year ago, left more than 93,000 people dead and triggered Italy’s deepest recession since World War II.
Many Italians hope they can count on Draghi’s banking experience and his years working in the Italian civil service.

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