Italian Prime Minister Mario Draghi on Thursday (July 14) said that he will resign from the post. Amid political crisis, Draghi told his cabinet: "I want to announce that this evening I will hand in my resignation to the president."&nbsp;

But the&nbsp;Italian&nbsp;President Sergio Mattarella has refused to consider the resignation.&nbsp;Mattarella "did not accept the resignation, and invited the prime minister to appear before parliament to make a statement," the presidential palace said.&nbsp;

Local media reports claimed that Draghi would address parliament next week. He has to &nbsp;to see if he has the necessary majority to remain in the power. &nbsp;

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The crisis is caused by the refusal of the Five Star Movement to participate in a government confidence vote. The populist coalition partner withdrew its support.&nbsp;

While announcing his resignation, he said the conditions necessary to carry on with the coalition government were "no longer there" and the "pact of trust that the government is based on has gone".&nbsp;

"I will hand my resignation to the president of the republic this evening," he said, adding that the trust that had led the government running, had gone.&nbsp;

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Giuseppe Conte, the leader of the Five Star Movement party, didn't support the government's £19.5 billion package of economic aid for families and businesses. The party argued that enough is not done by Draghi to tackle the cost of living crisis.&nbsp;

Experts have warned that the crisis could send the eurozone's third largest economy to snap elections.&nbsp;

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Italian Prime Minister Mario Draghi on Thursday (July 14) said that he will resign from the post. Amid political crisis, Draghi told his cabinet: "I want to announce that this evening I will hand in my resignation to the president.

Italian Prime Minister Mario Draghi on Thursday (July 14) said that he will resign from the post. Amid political crisis, Draghi told his cabinet: "I want to announce that this evening I will hand in my resignation to the president." But the Italian President Sergio Mattarella has refused to consider the resignation. Mattarella "did not accept the resignation, and invited the prime minister to appear before parliament to make a statement," the presidential palace said. Local media reports claimed that Draghi would address parliament next week. He has to to see if he has the necessary majority to remain in the power. ALSO READ | An Indian-origin UK PM? Rishi Sunak tops second ballot in Conservative Party leadership contest The crisis is caused by the refusal of the Five Star Movement to participate in a government confidence vote. The populist coalition partner withdrew its support. While announcing his resignation, he said the conditions necessary to carry on with the coalition government were "no longer there" and the "pact of trust that the government is based on has gone". "I will hand my resignation to the president of the republic this evening," he said, adding that the trust that had led the government running, had gone. ALSO READ | Missing from the public eye: Has the Wuhan virus infected Xi Jinping? Giuseppe Conte, the leader of the Five Star Movement party, didn't support the government's £19.5 billion package of economic aid for families and businesses. The party argued that enough is not done by Draghi to tackle the cost of living crisis. Experts have warned that the crisis could send the eurozone's third largest economy to snap elections. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Italian PM says he will resign amid political crisis; president refuses to accept Draghi's resignation

Italian Prime Minister Giuseppe <a href="https://www.wionews.com/world/italian-prime-minister-conte-close-to-resigning-report-359159">Conte</a> handed his resignation to President Sergio Mattarella after his government lost his majority in the upper house Senate last week.

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The Italian president's office in a statement said: "Mattarella accepted the resignation and reserves the right to decide (what to do next) and invited the government to stay in office in a caretaker capacity."&nbsp;

The centrist Italia Viva party led by former premier Matteo Renzi had quit the coalition government after a row over the government's handling of the coronavirus crisis and economic recession.

&nbsp;Conte had come to office in June 2018. Italy first felt the coronavirus pandemic in Europe leading to countrywide shutdown as the country slipped into a recession with several parts of the country sitll in lockdown even as the vaccination drive has slowed in recent months.

The prime minister survived a vote of confidence in parliament last week but fell short of an overall majority in the upper house, the Senate securing 156 votes to 140, however, his government fell short of winning the 161 needed for an overall majority.

Conte's ruling party comprised of the populist Five Star Movement (M5S), the Democratic Party (PD) and a smaller left parties. Conte's efforts to lure centrist and independent Senators met with little success.

Under the country's constitution, parliament cannot be dissolved in the last six months of a sitting head of state's mandate. President Sergio Mattarella's term ends in January 2022.&nbsp;

Italian Prime Minister Giuseppe Conte handed his resignation to President Sergio Mattarella after his government lost his majority in the upper house Senate last week.

Italian Prime Minister Giuseppe Conte handed his resignation to President Sergio Mattarella after his government lost his majority in the upper house Senate last week. Watch: The Italian president's office in a statement said: "Mattarella accepted the resignation and reserves the right to decide (what to do next) and invited the government to stay in office in a caretaker capacity." The centrist Italia Viva party led by former premier Matteo Renzi had quit the coalition government after a row over the government's handling of the coronavirus crisis and economic recession. Conte had come to office in June 2018. Italy first felt the coronavirus pandemic in Europe leading to countrywide shutdown as the country slipped into a recession with several parts of the country sitll in lockdown even as the vaccination drive has slowed in recent months. The prime minister survived a vote of confidence in parliament last week but fell short of an overall majority in the upper house, the Senate securing 156 votes to 140, however, his government fell short of winning the 161 needed for an overall majority. Conte's ruling party comprised of the populist Five Star Movement (M5S), the Democratic Party (PD) and a smaller left parties. Conte's efforts to lure centrist and independent Senators met with little success. Under the country's constitution, parliament cannot be dissolved in the last six months of a sitting head of state's mandate. President Sergio Mattarella's term ends in January 2022.

Pandemic fallout: Italian PM Giuseppe Conte resigns after losing Senate vote

Italian PM Giuseppe Conte is all set to resign as political turmoil grips the country, Speculations have arrived that Conte will attempt to form a new government. The move comes after Conte's government survived no-confidence vote in the Senate.

Italian PM Giuseppe Conte announces his resignation