Mario Draghi

Mario Draghi was born on September 3, 1947, in Rome. He pursued his education in economics and went on to have a successful career in global financial and economic organizations.

In 1976, Mario Draghi received a doctorate in economics from the Massachusetts Institute of Technology (MIT), marking a significant milestone in his academic and professional journey.

From 1991 to 2001, Mario Draghi served as the director general of the Italian treasury, where he played a central role in reducing Italy’s public debt, annual budget deficits, and stabilizing interest rates and currency exchange rates.

Italy's bid to join the European Economic and Monetary Union (EMU) in 1999 was supported by Mario Draghi's experience as a board member for Italian banks and corporations, including Banca Nazionale del Lavoro and Istituto per la Ricostruzione Industriale.

In 2002, Mario Draghi moved into investment banking by joining Goldman Sachs' international arm as vice-chair and managing director. During his time at the company, he played a key role in developing the company's strategy in the European market and worked closely with large European corporations and governments.

In late 2005, Mario Draghi was appointed as the governor of Banca d'Italia, also known as the Bank of Italy, which is the central bank of the country.

A few months after becoming the governor of Banca d'Italia, Mario Draghi was elected to the position of chair of the Financial Stability Forum, an organization focused on investigating and promoting global financial stability.

In 2009, the Financial Stability Forum was renamed to the Financial Stability Board, with Mario Draghi continuing his role in the organization, which brought together central banks and governments to promote global financial stability.

Mario Draghi formally took up the role of ECB President on 1 November 2011, succeeding Jean-Claude Trichet. His appointment was signed-off by EU leaders after winning the support of Italian prime minister Silvio Berlusconi and the recommendation of the Council of the European Union.

Mario Draghi assumed the position of President of the European Central Bank in November 2011.

Mario Draghi declares at a conference in London that the ECB is ready to do whatever it takes to preserve the euro, reassuring the markets and calming borrowing costs for eurozone governments.

Mario Draghi took office and quickly reassured global markets about the stability of the EU’s shared currency. His bold assertion that 'the ECB is ready to do whatever it takes to preserve the euro' came to be seen as the turning point of the crisis.

Mario Draghi delivered a speech where he used the phrase 'Whatever It Takes' to express the European Central Bank's commitment to save the Euro. This speech is considered pivotal in the efforts to stabilize the Eurozone.

Mario Draghi steps down as the President of the European Central Bank after serving in the position for eight years. His leadership has been crucial in implementing monetary policies to stabilize the Eurozone economy.

Mario Draghi completes his term as the President of the European Central Bank, to be succeeded by Christine Lagarde.

On 3 February, Italian President Mattarella invited former ECB President Mario Draghi to the Quirinal Palace to charge him with forming a national unity government. Draghi accepted the offer and began consultations with political party leaders.

On 10 February, League leader Matteo Salvini and FI leader Silvio Berlusconi jointly announced their support for Mario Draghi, while FdI leader Giorgia Meloni stated that her party would go into opposition.

Mario Draghi, an Italian economist, academic, banker, and civil servant, assumed office as the Prime Minister of Italy on February 11, 2021. He was invited to form a government of national unity in the midst of the COVID-19 pandemic in Italy, following the resignation of Giuseppe Conte.

On 12 February, Mario Draghi met with President Mattarella at the Quirinal Palace and presented his list of ministers for the national unity government.

On 13 February, the Draghi government was sworn in at 11:00 AM UTC. It was composed of twenty-four ministers, eight women and sixteen men, most of them from Northern Italy, largely from Lombardy and Veneto, and contained representatives from all supportive political parties, as well as numerous independent technocrats.

On 17 February 2021, the Senate approved the Draghi government with a significant majority, marking the third largest majority garnered by a government in the history of the Italian Republic.

The following day, the Chamber of Deputies affirmed its support for the Draghi government with a substantial majority, consolidating the government's position.

On 15 March 2021, Draghi placed the majority of Italy under 'full lockdown' conditions, in response to an increase in the transmission of COVID-19. Unlike the 2020 lockdown, factories and some other workplaces were allowed to remain open. Draghi vowed that Italy would see its vaccination programme triple in April, reaching 500,000 people per day by that time.

Draghi visited Libya to strengthen ties with the Arab country and reduce Turkish and Egyptian influences following the aftermath of the civil war.

Draghi publicly labeled Turkish President Recep Tayyip Erdoğan as a 'dictator' and criticized him for his behavior after a meeting with European leaders.

The Italian government led by Mario Draghi fell on July 20, causing shock in the country due to his unparalleled reputation and authority. His leadership was crucial in Italy's role in the Russia-Ukraine crisis and as a guarantor of benefits from cooperation with the European Union.

On 15 October, Italy became the first country in the world to establish a mandatory COVID-19 vaccination certificate or a negative test, for the entire work force, public and private.

Draghi signed the 'Quirinal Treaty' with the French president Emmanuel Macron, aimed at promoting the convergence and coordination of French and Italian positions in various matters.

Amid a new increase in COVID-19 cases following the spread of the highly contagious Omicron variant, the government introduced compulsory vaccination for all Italian citizens above the age of 50.

Draghi harshly condemned Russia's attack on Ukraine, calling for an immediate ceasefire and promising support for the exclusion of Russia from the SWIFT network.

Draghi publicly supported the application of Ukraine to join the European Union, breaking with other European leaders.

Draghi addressed the European Parliament, emphasizing the need for the EU to embrace 'pragmatic federalism' in multiple policy sectors.

Draghi visited Kyiv alongside French President Emmanuel Macron and German Chancellor Olaf Scholz to discuss various issues such as Ukraine's application to be an EU member and the ongoing Russian war in Ukraine.

After losing favor with certain members of the coalition government due to his proposals to provide economic stimulus, Draghi announced his resignation as prime minister on July 14, 2022.

Mario Draghi officially announced his resignation as prime minister and held a speech in front of the Senate, condemning the positions of M5S and Lega during the last months of the cabinet.

On July 21, 2022, Mario Draghi dissolved the Italian parliament and triggered early elections after facing challenges in rebuilding his coalition following the withdrawal of support from a key spending package.

In July 2022, Mario Draghi's unity government in Italy collapsed due to political parties' anticipation for the approaching end of the legislature.

Mario Draghi received the World Statesman Award presented by Henry Kissinger at the 57th Annual Awards Dinner in New York.

The Draghi government's term ended on October 22, 2022, after being in office for almost 20 months.

Mario Draghi, an Italian economist, assumes the role of Prime Minister of Italy in 2023.

Mario Draghi urged the EU to prepare for a significant investment as the world order shifts.