The Latest Breaking News from Mario Draghi

PM Mario Draghi had offered his resignation after the Five Star Movement boycotted a crucial vote in parliament.

The Italian head of state on Thursday rejected the resignation of Prime Minister Mario Draghi and asked him to address parliament to get a clear picture of the political situation, a statement from President Sergio Mattarella's office said.

Mario Draghi said he would resign as Italian prime minister on Thursday, after a party in his ruling coalition did not participate in a confidence vote.

Italy's government hangs in the balance, yet again. Despite war and economic turmoil destabilising the world, the culprit here is one this country has seen many times before: a political party struggling for its survival.

Ten years after Mario Draghi's "whatever it takes" pledge saved the euro, Italy is once again in the middle of a debt crisis - but the country's prime minister and former head of the European Central Bank may struggle to solve this one.

The Italian government won on Thursday a confidence motion in the upper house of parliament on measures aimed at helping counter the cost-of-living crisis, however the 5-Star Movement carried out its threat to boycott the vote.

The survival of Italian Premier Mario Draghi's government is hanging in the balance before a key vote in the Senate

Negotiations to try to avoid a parliamentary confidence vote that could trigger the collapse of the Italian government failed on Thursday after Prime Minister Mario Draghi said the vote must be held, a statement said.

Prime Minister Mario Draghi's government is on the brink of collapse after the 5-Star Movement said it will not take part in a parliamentary confidence vote on a cost-of-living aid package on Thursday.