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Italian government could fall as 5-Star shuns confidence vote

14 July 2022 12:52 (UTC +04:00)

Italian Prime Minister Mario Draghi's coalition government appeared close to collapse on Thursday after the 5-Star Movement, one of its members, said it would not take part in a parliamentary confidence vote, APA reports citing Reuters.

Other coalition parties have warned that they will quit the government if 5-Star boycotts the vote in the Senate which is due later in the day, while Draghi himself said this week that he would not head an administration without the 5-Star on board.

The 5-Star decision plunges Italy into political uncertainty, risks undermining efforts to secure billions of euros in European Union funds, and could lead to early national elections in the autumn.

Italy is due to vote by the first half of next year and tensions have been rising between members of a coalition in place since early 2021 and straddling both sides of the political divide.

The prospect of a political crisis was felt in financial markets where Italian bond yields rose sharply, indicating investors demanding a higher premium to hold its debt, and shares fell.