Maria Draghi is a 'great' name, especially in Europe. He is known for saving Europe from being embroiled in a national debt crisis. After spending some time in the financial arena, Draghi is now back to help his country.
The former president of the European Central Bank has met with Italian president Sergio Mattarella after being invited to join in forming a technocratic government and resolving the ongoing political crisis.
Italian political turmoil recently began when a small party drew support for the coalition government. This means that the pro-EU cabinet is losing the majority of support needed in the Italian parliament. In addition, the country is also facing a severe health and economic crisis.
In the latest press conference, Draghi has accepted the task given to him and is determined to improve the situation in Italy. Draghi served as ECB president for eight years and has experience leading the ECB in the most critical phase of the European debt crisis, which almost divided European countries.
With Draghi’s presence, the market has welcomed the news. Where Italian bond yields go down thus reducing the cost of borrowing for the Italian government and showing signs that investors are more confident with the situation in Italy.
