Will Mario Draghi move to Italy’s largely ceremonial presidency?

ITALIAN PRESIDENTIAL elections customarily have more twists and implausible turns than a Verdi opera. Voting in the latest—to replace President Sergio Mattarella—is to begin on January 24th. Over the coming weeks party leaders can be expected to trade bluff and counter-bluff, leaking the names of candidates whose chances they are in fact content to sacrifice while keeping secret until the last moment the identity of the one they really favour.

The outcome matters: Italian presidents have the power to dissolve parliaments and name prime ministers. They also hold office for an unusually long time: seven years, during which they acquire a moral authority that can constrain the actions of the government.