Is Mario Draghi No Longer Davos’ Superman? by Tom Luongo

Mario Draghi is a bought and paid for Davos operative, but he’s not doing too well in his home country. From Tom Luongo at


Draghi hasn’t even begun to fight Bitcoin, but he’s thinking about it.

Italian politics is nothing if not entertaining. Unfortunately, given current circumstances that entertainment value is more akin to watching a slowly unfolding horror show rather than a good time at the circus.

Last week was dominated by the machinations for the election of a new president, which ended after eight rounds with incumbent Sergio Mattarella elected to another seven-year term at the spry age of 81.

Mattarella was supposed to retire.

It was supposed to be the ascendance to godhood for Prime Minister Mario Draghi who would replace Mattarella controlling the fate of Italian politics for the rest of the decade.

That did not materialize, because Draghi, despite the endless platitudes thrown around in the Western press, is hated inside Italy, and not just by the people he’s turned into second-class citizens, but by his fellow politicians.

Reports of Draghi pulling a Justin Trudeau (You need to translate this from Italian) and ducking out out of Parliament for the vote because of an illness is the height of Davosian bullshit. (click here for the final results)

Draghi had no real support within the parliament if it meant them having to deal with him for the next seven years.

Davos finally lost a big move in Italian politics from within the government for the first time in the last decade. They’ve proven adept at external manipulation and betraying the Italian people regardless of how they voted previously, but it looks like their typical top-down head-chopping approach to politics has finally backfired on them.

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