The Italian President has limited powers, but he may pick a prime minister and influence the government's economic policy, and a general election is slated for early next year, putting the government under a lot of pressure.
The economy will be in charge of the new prime minister, who will almost certainly lead a coalition administration.
The epidemic hit Italy hard, but the country had been stagnant for years before that, and overseas investors want it to keep growing.
Italy's conservative alliance nominated three viable candidates on Tuesday, leaving the centre-left parties to reply as parliament remained deadlocked over a successor to President Sergio Mattarella, following an indecisive second round of voting.
"We are not here to impose anything on anyone," Matteo Salvini, the League's leader, said at a press conference.
Since controversial former Prime Minister Silvio Berlusconi withdrew from the race over the weekend, critics of Italy's political system may say that the economy has been spared a bullet.
Mario Draghi, the current Italian Prime Minister and former president of the European Central Bank, is largely regarded as the favorite to become the next Pope or King to reside at the Quirinale Palace, but favorites rarely prevail.
He will be empowered to choose a prime minister, reject cabinet nominations, and reintroduce legislation into parliament for amendment if he is elected president. These are useful instruments for keeping things on track, and they can protect the economy against future administrations that try to derail it.
Who would succeed Mr. Draghi as Prime Minister if he were to become the next President of the Italian Republic, and would Rome's political stability be jeopardized?
When the coronavirus pandemic emerged, the Italian economy took a hit, and the country was put on lockdown, but businesses are now doing well again. The current administration
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