Italian President Signs Decree on Holding Snap Elections on Sept. 25 After Parliament Dissolution

Prime Minister Mario Draghi's government imploded on Wednesday after members of the governing coalition rejected his appeal to band back together to finish the parliament's natural term.

Italian President Sergio Mattarella has dissolved the parliament, triggering a snap election, just hours after he accepted Prime Minister Mario Draghi's resignation.

"The President of the Republic, Sergio Mattarella, after hearing the presidents of the two chambers of the parliament, in accordance with Article 88 of the Constitution, signed a decree dissolving the Senate of the Republic and the Chamber of Deputies, which was signed by the president of the Council of Ministers," a statement from the presidential office read.

Mattarella said that there were no prospects for the formation of a new majority, calling his decision inevitable.

"The political situation led to this decision," the president said in a televised address. "Early dissolution of the chambers is always the last decision, especially if, as at this moment, there are important obligations of the chambers that need to be fulfilled."

As elections must be held within 70 days of the dissolution of parliament, the president signed a decree on holding the vote on September 25.

Draghi tendered his resignation to Mattarella on Thursday morning, after key coalition allies - Forza Italia, League, and the Five Star Movement - boycotted a confidence vote and refused to put aside their grievances to continue working together.

The prime minister announced his intention to stand down last week after losing support from the Five Star Movement, a partner in his 17-month-old coalition, however, Mattarella rejected his resignation offer at the time. This time around, he "took note" of it, and asked Draghi to act as a caretaker prime minister until a successor is elected.

President Mattarella tapped Draghi, the former European Central Bank chief, to form a government of national unity in early 2021, to guide the country through its economic recovery amid the coronavirus pandemic.