Survival of Italy’s government rests on Draghi choice

Significance

Plans to invest in key areas such as innovation, digitisation and climate change are already under way, as are plans to reform the pension system.

Impacts

• EU fiscal rules will not return until 2023 at the earliest, enabling Draghi to focus on pro-growth strategies.
• If Draghi becomes president, finding an alternative government may be difficult as some parties will demand early elections.
• While the polls have narrowed, a right-wing government remains the most plausible outcome after the next general election.