Mario Draghi, the former head of the European Central Bank, has been named Italian prime minister after persuading nearly all of the country’s squabbling parties to support his government, raising hopes that he can succeed where many others have failed: in leading Italy out of its deep economic malaise.
Italy’s head of state, President Sergio Mattarella, appointed Mr. Draghi and his proposed ministers late Friday, ahead of a formal swearing-in to be held the following day and a parliamentary vote of confidence early next week.
Mr. Draghi is set to take over the European Union’s third-biggest economy after Germany’s and France’s as Italy fights with persistently high Covid-19 contagion, an agonizingly slow vaccine rollout and restrictions on daily life that are holding the economy in recession.
Reviving economic growth in Italy is vital for the EU and its common currency, the euro, since Italy’s deep debts and chronically low growth…
