France and Italy are set to extend virus restrictions as Europe struggles to contain a sharp increase in infections due to new variants, Bloomberg News reported. The resurgence in the outbreak is a setback for governments, whose plans to get life back to normal and revive their economies have already been stymied by a slow vaccine rollout across the European Union. The French virus spike has been particularly bad, and Germany and Spain last week imposed border restrictions to travelers coming from the country. French President Emmanuel Macron is due to address the nation at 8 p.m.
Telecom Italia and unions agreed on Monday to cut up to 1,300 jobs in Italy this year through a voluntary scheme, two union sources said, as the country’s biggest phone group strives to revamp its business in the COVID-19 crisis, Reuters reported. The cuts would amount to around 3% of TIM’s 42,600 employees in Italy and be implemented through an early retirement scheme. In addition, TIM and unions have agreed a potential further 178 jobs cuts to be implemented by the end of 2023 through a separate voluntary layoff scheme, the sources said.
Italy’s new prime minister, Mario Draghi, appealed on Wednesday for unity and sacrifice as the country pushes forward with vaccinations and seeks to seize on a $240 billion European relief package to overhaul the economy and address persistent inequalities, the New York Times reported. In his first speech as head of government, Mr. Draghi addressed the Italian Senate for an hour through a white mask before a confidence vote for a broad unity government that he is assured to win.
Mario Draghi, the former head of the European Central Bank, has been named Italian prime minister after persuading nearly all of the country’s squabbling parties to support his government, raising hopes that he can succeed where many others have failed: in leading Italy out of its deep economic malaise, the Wall Street Journal reported. Italy’s head of state, President Sergio Mattarella, appointed Mr. Draghi and his proposed ministers late Friday, ahead of a formal swearing-in to be held the following day and a parliamentary vote of confidence early next week. Mr.
Mario Draghi, the former head of the European Central Bank, became a hero to financial markets and the European Union after he defused the continent’s debt crisis by promising to do “whatever it takes” to save the euro, the Wall Street Journal reported. That could turn out to be the easy part. Mr. Draghi must now show he has what it takes to become Italy’s next prime minister, convince the country’s fractious parties to back him, and reverse a long economic decline in the depths of the worst pandemic in a century. The euro’s future could once again hinge on how Mr. Draghi fares.
Italian Prime Minister Giuseppe Conte announced on Monday that he would resign, plunging the country into fresh political turmoil, Politico reported. By stepping down, Conte will avoid a humiliating defeat in parliament in a vote on judicial reforms later this week. He narrowly won the backing of parliament in a ballot last week after former Prime Minister Matteo Renzi, leader of the small Italia Viva party, withdrew his ministers from the ruling coalition, forcing a confidence vote.