A secret ballot to elect Italy's next president begins on Monday — with Prime Minister Mario Draghi among the favorites.
Veteran politician and business magnate Silvio Berlusconi dropped out of the presidential race at the weekend.FILIPPO MONTEFORTE | AFP | Getty Images
Veteran politician and business magnate Silvio Berlusconi dropped out of the presidential race at the weekend, with the four-times former prime minister telling supporters to "give up" viewing him as a contender. It's rare for a president to be elected in the first rounds given the required two-thirds majority. As such, the process is expected to last a few days, with a winner likely to be announced before the end of the week.
Draghi "certainly is the most prominent name out there and one that gets the support from a lot of different individuals from across the parties," Anna Rosenberg, head of Europe and the U.K. at Signum Global Advisors, told CNBC Monday.
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