A former head of the European Central Bank was sworn in as Italy's new Prime Minister on Saturday.
Mario Draghi will lead a unity government made up of lawmakers from across the political spectrum, as well as technocrats in key posts.
All but one of Italy's major parties have rallied to his side.
Draghi is now tasked with leading the country out of the global health crisis and tackling the worst economic recession in decades.
Hundreds of people are still dying every day from Covid-19 and the vaccination campaign has been slow to get off the ground.
His first job will be to plan how to spend more than 240 billion dollars in European Union funding aimed at rebuilding Italy's economy.
If he prevails, Draghi will likely bolster the entire eurozone, which has long fretted over Italy's perennial problems.
Success would also prove to Rome's skeptical northern allies that by offering funds to the poorer south, the entire bloc can be fortified.
Draghi's appointment follows the collapse last month of the coalition led by Giuseppe Conte.
This is Italy's 67th government since the second world war and the seventh in the last decade alone.