Italy's Draghi easily wins lower house confidence vote, now fully empowered
- Shares gain ground as investors await U.S. inflation data
- Oil prices tick up after robust China data
- Dollar edges up as markets wait for U.S. inflation data
- Grab to Go Public in Partnership with Altimeter (AGC) for Equity Value of $39.6 Billion
- Bitcoin (BTC) Price Soars 5% to Fresh Record Highs Ahead of Coinbase IPO
Italy's Prime Minister Mario Draghi addresses the lower house of parliament ahead of a confidence vote, in Rome, Italy, February 18, 2021. REUTERS/Guglielmo Mangiapane/Pool
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
ROME (Reuters) - Italy's Prime Minister Mario Draghi easily won a vote of confidence in the lower house of parliament on Thursday, the final step needed for his new government to exercise its full powers.
The Chamber of Deputies approved the confidence motion by 535 votes to 56 in the 629-seat chamber, with the far-right Brothers of Italy being the only major party to oppose the former European Central Bank president.
Draghi was sworn into office last week after a drawn-out political crisis which saw his predecessor Giuseppe Conte forced out over a coalition rupture.
He already won a confidence vote on Wednesday in the upper house Senate, where he gave his maiden speech as premier setting out his policy priorities, starting with tackling the twin coronavirus and economic crises.
The decision to support Draghi has lacerated the 5-Star Movement, the largest party in parliament, which was formed in 2009 as an anti-establishment protest group.
It has joined Draghi's multi-party government but many of its voters and politicians still baulk at the idea of supporting a former ECB chief.
On Thursday 16 of 5-Star's 189 deputies defied the party line by voting against Draghi. Fifteen of its 92 senators did the same thing in the upper house vote the day before.
Smaller numbers in both houses abstained or did not show up for the vote.
(Reporting by Gavin Jones and Angelo Amante, writing by Gavin Jones, editing by Crispian Balmer)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Novavax says supply shortages delaying full-speed production of its COVID-19 vaccine
- U.N. food agency says nearly 1 million going hungry in Mozambique
- Philippines summons Chinese ambassador over vessels in disputed waters