Since the fall of the Berlin Wall, Italy has had 19 governments, lasting on average just over 18 months. As such, Mario Draghi's government - which is about to collapse - is about to make it 20 failed government (but at least Draghi's 17 months lasted right in line with the average).

Moments ago, Italy's center-right League headed by Mtteo Salvini party indicated that it will join Silvio Berlusconi's Forza Italia in skipping a confidence vote over Prime Minister Mario Draghi's government, assuring that Draghi's government will collapse leading to snap elections as soon as the fall.

The news follows a speech earlier on Wednesday, in which the former Goldman partner and ECB head indicated he was willing to stay on as prime minister if his coalition partners could guarantee "sincere and concrete support" for him to continue, and sought a vote of confidence.