Tuesday, May 17, 2011

Draghi wins finance ministers' backing for ECB presidency ...

Mario Draghi, the governor of the Bank of Italy, is now likely to become the next president of the European Central Bank (ECB) after eurozone finance ministers gave him their unanimous backing tonight.

Their support paves the way for his formal appointment to be agreed by leaders of EU member states at the summit on 24 June. There are no other candidates.

Jean-Claude Juncker, the prime minister of Luxembourg who chairs meetings of eurozone finance ministers, told reporters after talks in Brussels: ?He's a central banker who has proved through his career that he holds very dear the principles of the euro.?

The European Parliament will have to put Draghi's nomination to the vote next month before member states' final decision.

He would take over at the ECB in October following the end of Jean-Claude Trichet's eight-year term.

? 2011 European Voice. All rights reserved.

Source: http://www.europeanvoice.com/article/2011/may/draghi-wins-finance-ministers-backing-for-ecb-president/71086.aspx

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