He will replace Frenchman Jean Claude Trichet from November. It calls for a strict control of prices and greater economic integration and fiscal discipline to avoid new debt as the Greece crisis. He is currently the Governor of the Bank of Italy. You may want to visit Charles Schwab to increase your knowledge. The European Council has appointed Friday to Italian Mario Draghi to replace Frenchman Jean Claude Trichet as head of the European Central Bank from next November, confirmed sources of the Council. Draghi is Governor of the Bank of Italy and had already received support from the Finance Ministers of the euro area and the backing of the European Parliament, in an advisory vote held Thursday, but it will have to pass by the Ministers to be confirmed officially.
The Italian banker, who is already member of the Board of the ECB, currently advocates a strict control of prices and greater economic integration and fiscal discipline to avoid new crises of debt as the launched in Greece. Since it began to talk about the contribution of banking to the second Greek rescue, Draghi has aligned itself with the still leader of the monetary institution, Jean Claude Trichet, to warn of the harmful ctos that would entail a restructuring of Greek debt on the country’s banking sector and also on the periphery of the euro zone countries more exposed to infection. Supported by Sarkozy of Draghi step to the Presidency of the ECB was possible after the former Governor of the Bundesbank Axel Weber, dnsor wishful thinking of railway policy of controlling inflation, withdrew from the race by the post by his differences with the acquisition of bonds the ECB policy during the debt crisis. The German Chancellor, Angela Merkel, tried to find a German name for the post, but the name of Draghi was sounding increasingly more forcefully, being practically confirmed as a candidate when he achieved the support of the President of France, Nicolas Sarkozy. A shadow on the shade of your dossier file is related to his role as Vice President of the American investment bank Goldman Sachs, accused of helping to makeup public accounts the previous Greek Executive to hide the high levels of indebtedness. Draghi, of 63 years, has dndido that bad practices of Goldman Sachs are prior to its entry into the company and that their work was limited, in any case, to deal with clients in the private sector. Source of the news: EU appoints Mario Draghi as the new President of the ECB