(A.P.) — ROME — After accepting Premier Mario Draghi’s resignation on Thursday and determining there was no possibility of cobbling together another government in the wake of the rapid collapse of the ruling coalition, Italy’s president decided there was no choice but to call for early elections. Italy is now on track to hold elections sooner rather than later.

A destabilizing blow has been dealt to the country and Europe amid rising inflation and Russia’s war in Ukraine. The collapse of Draghi’s coalition in the eurozone’s third-largest economy and the uncertainty of what Italian voters will decide at the polls are two factors that have contributed to this blow.

Dissolution of parliament “is always the last choice to make, especially if, as in this moment, there are important tasks to carry to completion,” President Sergio Mattarella said in a brief speech at the presidential Quirinal Palace, where Draghi had tendered his resignation hours earlier. Mattarella made these remarks after Draghi had handed in his resignation hours earlier.

According to Mattarella’s office, the election will take place on September 25.

He made a plea to the various political parties, asking them to keep “the superior interests” of the country in mind as they campaign. He cited the skyrocketing cost of food and energy as evidence that those who suffer the most are typically the most vulnerable members of society.

“The time that we are going through does not allow for any pause in determining interventions to contrast the economic and social crisis, and in particular the increase in inflation, which brings heavy consequences for families and businesses,” he said. “The time that we are going through does not allow for any pause in determining interventions to contrast the economic and social crisis.”

To ensure that the administration can carry out fundamental tasks in the months before a new coalition is formed, Mattarella asked Draghi to continue serving in a caretaker capacity and Draghi agreed to do so.

However, because Italy’s political parties frequently argue with one another, it may take many additional weeks until a new administration is formed. Following the parliamentary elections in 2018, it took three months before a new government could be sworn in.

The five-year term of Parliament would have ended in March 2023, which means that the election would have been held just over half a year in advance of its scheduled date.

Mattarella pointed out how unfortunate the timing was for both the country and the region. However, he claimed that he was powerless following the events of Wednesday evening when three important parties in Draghi’s “unity” coalition declined to renew their support in a vote of confidence.

The president stated that “the debate, the vote, and how this vote was expressed yesterday in the Senate made evident the parliamentary support for the government had gone lacking and the absence of a prospective to give life to a new majority” in Parliament. “The debate, the vote, and how this vote was expressed yesterday in the Senate made evident the parliamentary support for the government had gone lacking and the absence of a perspective to

A week before, Mattarella had declined Draghi’s similar resignation offer. Draghi’s offer had been rebuffed by Mattarella.

Italy’s political unrest has the potential to spread throughout Europe, which is also struggling economically. As the European Union fought to maintain a united front against Russia, which supplies a significant portion of the natural gas that is purchased by Italy and other nations, Draghi took on the role of a statesman.

Draghi urged his interim Cabinet to maintain its concentration on the critical issues now facing Italy.

Draghi stated that Italy possesses “everything” that is necessary to be powerful, authoritative, and reputable in the world. According to him, the government is required to continue with mandated economic changes while also addressing the epidemic, the war in Ukraine, inflation, and rising energy costs.

“In the meantime,” he said, “let’s get back to work.”

After the COVID-19 crisis, Mattarella asked the former head of the European Central Bank to steer Italy’s economic recovery 17 months earlier. This was after the country’s economy had been devastated by the crisis.

His coalition, however, was derailed this week by the center-right Forza Italia party, which was led by former Prime Minister Silvio Berlusconi, as well as by two larger parties: the right-wing League, which is led by Matteo Salvini, and the populist 5-Star Movement, which was led by Draghi’s predecessor in the premiership, Giuseppe Conte.

Before reiterating his offer to step down as head of the European Central Bank on Thursday, Draghi gave a brief address to the lower Chamber of Deputies where he appeared moved by the applause from MPs there. He quipped that even the heads of central banks have hearts.

Draghi has played a similarly calming role in Italy over the past few months. He earned the nickname “Super Mario” for his role in helping to steer the eurozone out of its debt crisis while he chaired the ECB. His presence helped to reassure financial markets about the debt-ridden nation’s public finances, and he was able to keep the country on track with the economic reforms that the EU had stipulated as a condition of its 200 billion euro (or dollar) pandemic recovery package. His presence also helped to reassure financial markets about the debt-laden nation’s public finances.

Even when the leaders of the 5-Stars and the League, two forces that have traditionally been favorable to Russia, appeared to be wavering in their support to supply Kyiv with armaments, he was a steadfast backer of Ukraine. Following Russia’s invasion on February 24, Draghi emerged as a prominent figure in the European Union’s (EU) response.

A picture taken on a train to Kyiv that showed Italian Prime Minister Mario Draghi conversing with the leaders of France and Germany soon became the most recognizable representation of Italy as one of the most staunch supporters of Ukraine. He was a proponent of the nation’s membership application to the European Union.

Even though he was unable to hold his fractured coalition together, Draghi looked to still have widespread popularity among Italians. In the past few weeks, many Italians have marched to the streets or signed open letters pleading with him to continue in his role as prime minister.

Nicola Nobile, associate director at Oxford Economics, issued a warning that the departure of Draghi and the wait for a new government could worsen economic turmoil in Italy. Investors worry that Italy is carrying too much debt, and the country was already looking at a marked slowdown for the second half of the year. Draghi’s departure and the wait for a new government could both make matters worse.

According to recent surveys of public opinion, the center-left Democratic Party and the right-wing Brothers of Italy party, both of which have maintained their status as opposition parties, are in a statistical dead heat.

Brothers of Italy has been a staunch ally of both Berlusconi’s and Salvini’s forces for a long time. The right may win the election easily if they continue to work together during the campaign. Giorgia Meloni, who now serves as the leader of the Brothers of Italy, has expressed her desire to become the first female prime of Italy.

“There is only one way to determine what the people want, and that is to vote. She said, “let’s give hope and power back to Italy.”