Prime Minister of Italy Mario Draghi speaks outside the G-7 summit in  Germany on June 26, 2022.

Canadian Prime Minister Justin Trudeau, left, talks with German Chancellor Olaf Scholz as Prime Minister of Italy Mario Draghi, center, speaks about the launching of the global infrastructure partnership, on the margins of the G7 Summit in Elmau, Germany, Sunday, June 26, 2022. (AP Photo/Susan Walsh)

Italy faces a triple threat of a gas squeeze, higher interest rates and looming elections.

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