Italy’s Mario Draghi to offer resignation

Italian Prime Minister Mario Draghi will submit his resignation, saying on Thursday he could no longer carry out his government’s program.

The move came after a key coalition partner, the 5Star Movement, effectively withdrew its support for Draghi’s government earlier in the day, boycotting a major confidence vote on a cost-of-living bill.

“The majority of national unity that has supported this government since its creation is no longer there,” Draghi told his Cabinet. “The pact of trust underlying the government’s action has failed.”

Draghi added that he had made the “utmost commitment to continue on the common path,” while trying to meet the demands of the political parties. But Thursday’s vote showed his effort was not enough.

If Italian President Sergio Mattarella accepts Draghi’s resignation, the country will need to find a new leader amid a backdrop of economic turbulence.