As per a government statement, Italy’s PM Mario Draghi will resign.
Earlier, the governing coalition survived a vote of confidence despite the 5-Star Movements decision to sit out the vote. The PM later met with France’s President Mattarella but was reported he did not resign. Draghi has said if he did not have the support of the 5-star Movement in his coalition, he would resign.
It appears he has done just that.
The EURUSD has move back below the 1.0000 level and trades at 0.9987 currently.
Subsequent headlines from Draghi:
- 5 star’s nonparticipation in confidence vote was very significant from a political point of view
- the national unity coalition that backed this government no longer exists
- the conditions are no longer in place for me to carry on
- I will tender my resignation to the president this evening
This article was originally published by Forexlive.com. Read the original article here.