Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Italy's 5-Star gets in tangle over Draghi

Published 02/10/2021, 09:21 AM
Updated 02/10/2021, 09:25 AM
© Reuters. FILE PHOTO: Italy's 5-Star Movement's leader Vito Crimi arrives for a meeting with Italian President Sergio Mattarella at the Quirinale Palace in Rome

By Angelo Amante and Giuseppe Fonte

ROME (Reuters) - Italy's 5-Star Movement struggled on Wednesday to quell its deep divisions over Mario Draghi's drive to form a government which risk tearing apart the anti-establishment party and delaying the creation of the cabinet.

Party leaders who met Draghi on Saturday and again on Tuesday had sounded upbeat about the prospects of joining the broad-based administration he is putting together to tackle the coronavirus health emergency and economic slump.

With pledges of support from a host of groups, including the League, Forza Italia and the Democratic Party, Draghi does not need 5-Star votes. However, the movement has the largest number of lawmakers in both houses of parliament and its absence would undermine his efforts to build a national unity alliance.

As usual for such a major decision, 5-Star had been expected to hold an online ballot of members to take the final decision. But the leadership had to postpone the poll set for Wednesday after hitting fierce opposition from some of its lawmakers.

"Saying 'yes' or 'no' to Draghi would be too simplistic ... We need to vote on a programme," party chief Vito Crimi told Corriere della Sera newspaper in an interview on Wednesday.

A new prime minister normally only reveals his programme to parliament once his ministers have been sworn in. It was not immediately clear if 5-Star was expecting Draghi to disclose all or part of his plans early in order to guarantee their support.

5-Star was born in 2009 as an anti-system, anti-euro protest party and it has formed the backbone of the last two coalition governments, which both collapsed following rows with allies.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"SUPERFLUOUS"

Posts on the party blog suggest many members are uneasy at the prospect of hooking up with a former president of the European Central Bank, despite calls from the movement's founder, Beppe Grillo, to endorse the initiative.

Grillo's appeals angered some party stalwarts and around 1,000 took part in a stormy Zoom call on Tuesday to denounce Draghi, party sources said.

"I don't recognise Grillo anymore. I used to love him. He made me feel passionate. I suggested (on the call) that we should call in an exorcist and liberate him," Maria Muscara, a councillor in the southern region of Campania, told Reuters.

5-Star sources say a sizeable number of its 92 senators do not want to support Draghi and might rebel even if Grillo's stance is eventually backed by an online ballot - putting the future of the group at risk.

One source said lawmakers were unhappy at the idea of joining another government that included the right-wing League, its coalition partner between 2018-19. They are also worried that their voice will be lost in a broad-based government.

"We will be superfluous. They will be able to govern without us," a 5-Star lower house deputy said, declining to be named.

Another lawmaker, who also asked for anonymity, said that if they were to back Draghi, they would need public assurances that he would put many issues close to their heart in his programme, including green policies, income support initiatives, tax cuts and a prominent state role within the national motorways.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

There was no immediate comment from Draghi or his aides.

Politicians expect Draghi to see the president before the end of Friday to confirm he has sufficient backing to form a government and to present a list of ministers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.