Italy Crisis→Mario Draghi

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Mario Draghi OMRI (born 3 September 1947) is an Italian economist, banker, academic, civil servant, and politician who has been serving as Prime Minister of Italy since 13 February 2021. He previously served as President of the European Central Bank from 2011 until 2019. Draghi was also Chair of the Financial Stability Board from 2009 to 2011 and Governor of the Bank of Italy from 2006 to 2011.

After a lengthy career as an academic economist in Italy, Draghi worked for the World Bank in Washington, D.C., throughout the 1980s, and in 1991 returned to Rome to become Director General of the Italian Treasury. He left that role after a decade to join Goldman Sachs, where he remained until his appointment as Governor of the Bank of Italy in 2006. His tenure as Governor coincided with the 2008 Great Recession, and in the midst of this he was selected to become the first Chair of the Financial Stability Board, the global standard-setter that replaced the Financial Stability Forum.

He left those roles after his nomination by the European Council in 2011 to serve as President of the European Central Bank. He presided over the institution during the Eurozone crisis, becoming famous throughout Europe for saying that he would be prepared to do "whatever it takes" to prevent the euro from failing. In 2014, Draghi was listed by Forbes magazine as the eighth-most powerful person in the world. In 2015, Fortune magazine ranked him as the world's "second greatest leader". In 2019, Paul Krugman described him as "the greatest central banker of modern times". Moreover, thanks to his monetary policies, he is widely considered the "savior of the euro" during the European debt crisis. He has been nicknamed Super Mario by some media, a nickname that was popularised during his time as President of the European Central Bank, when he was credited by numerous sources as having played a key role in combatting the Eurozone crisis.

After Draghi's term as ECB President ended in 2019, he initially returned to private life. On 3 February 2021, in the midst of the COVID-19 pandemic, Draghi was invited by Italian President Sergio Mattarella to form a government of national unity, following the resignation of Giuseppe Conte. After successful negotiations with parties including the League, the Five Star Movement, the Democratic Party and Forza Italia, Draghi was sworn in as Prime Minister on 13 February, pledging to oversee effective implementation of COVID-19 economic stimulus.