‘Super Mario’ sworn in as Italy’s PM – can he save its economy like he saved the euro?

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In 2012, the Eurozone was facing an existential crisis, with the future of the euro itself in doubt.Investors were seeking an ever-greater premium to lend to countries like Spain and Italy and there was real concern in European capitals that at least one country might have to be ejected from the single currency zone. Greece, in particular, was thought likely to default on its debts. It is no exaggeration to say that one man, more than any other, prevented that from happening. Image: Mr Draghi, then ECB boss, receives a gift from European Parliament members in 2019 He telegraphed his intentions with a single phrase, uttered at a global investment conference at Lancaster House in London on 26 July, 2012: "Within our mandate, the European Central Bank is ready to do whatever it takes to preserve ...read more...