Mediaboss Marketing

ROMEMario Draghi, the former head of the European Central Bank, became a hero to financial markets and the European Union after he defused the continents debt crisis by promising to do whatever it takes to save the euro.

That could turn out to be the easy part. Mr. Draghi must now show he has what it takes to become Italys next prime minister, convince the countrys fractious parties to back him, and reverse a long economic decline in the depths of the worst pandemic in a century.

The euros future could once again hinge on how Mr. Draghi fares. The eurozones third-biggest economy after Germany and France is also its biggest long-term problem. Italys debts are high, its growth is chronically low and its society is increasingly frustrated.

Since Brexit, the EU political establishment has cast a nervous eye at Italian public opinion, which used to see Europe as the answer to Italys woes, but now sometimes sees the EU and the euro as part of the problem. Mr. Draghi, a believer in the European project, will try to convince Italians that their problems are homemade.

Fixing Italys economy is a puzzle that has defied the best efforts of many well-regarded technocrats and reform-minded politicians over the past quarter-century.

Read this article:
Italy, and Europe, Look to Mario Draghi to Solve Another Crisis - The Wall Street Journal