When Mario Draghi convened his Cabinet two days after his failed bid for president, he shook hands with each minister and congratulated them for Italy’s economic rebound last year. Then he gave them 48 hours to submit their plans for the next phase of economic rebuilding, according to people briefed on the meeting.
As he looks to refocus his administration after the rare setback of his presidential rejection, Draghi is stepping up the pace of his economic reform programs. He isn’t ready to indulge the objections of his coalition partners.
The former European Central Bank chief is determined to reestablish his authority and pull his fractious coalition into line, the people said. He’s also wary of taking on too much extra debt at a time when the ECB is shifting toward tightening monetary policy, pushing up the cost of borrowing for the Italian state, they added.
