Conte Officially Resigns as Italian Prime Minister... Will a New Coalition Be Formed?

[Image source=Yonhap News]

[Asia Economy Reporter Koo Chae-eun] Giuseppe Conte, the Prime Minister of Italy, has announced his intention to resign.

According to local foreign media on the 26th, Prime Minister Conte convened a cabinet meeting in the morning and informed cabinet members of his decision to step down. He is expected to soon visit the Italian presidential residence to submit his resignation to President Sergio Mattarella. With Conte's resignation, negotiations for forming a new coalition government under President Mattarella's supervision are expected to intensify.

Starting on the 27th, President Mattarella plans to meet sequentially with the leadership of major political parties to identify a prime minister candidate who will be granted the authority to form a coalition government. Local political circles are strongly considering a scenario in which Prime Minister Conte is reappointed with the mandate to form the coalition.

There are also views that the resignation of Prime Minister Conte will further increase political uncertainty. This current political crisis was triggered when 'Italia Viva (IV),' a breakaway faction from the Democratic Party, declared its exit from the coalition due to policy differences.