Mario Draghi has resigned, and Italian President Sergio Mattarella has dissolved the parliament after 3 parties in the 7-strong governing coalition boycotted a confidence vote yesterday. The former European Central Bank chief – who became Italy’s latest unelected technocratic leader early last year – offered to step down after the populist Five Star Movement (M5S) boycotted a vote on a controversial €26 billion cost of living package last week. That offer was rejected by Italy’s President Sergio Mattarella to avoid the collapse of the nation’s 3rd government in as many years. And despite best efforts, the coalition – a heady mix of right, left, and centrist-leaning parties – has unravelled further over the week. Draghi had called for unity to tackle challenges like soaring inflation and pandemic recovery, and while he won yesterday’s confidence vote, the absence of the 3 key coalition allies shows the writing on the wall for the government’s ongoing survival. A new election has to be held by the end of September.