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Italian government names new central bank boss

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Italian government names new central bank boss


The Italian government has named Mario Draghi as the governor of the country’s central bank. He had been hotly tipped to get the job. That was the view of several Italian papers this morning. Some quoted sources saying the Goldman Sachs executive had earlier been approved by Prime Minister Silvio Berlusconi and President Carlo Azeglio Ciampi. The Italian cabinet met this morning to confirm his appointment. Draghi takes over from Antonio Fazio who quit earlier this month after becoming embroiled in a bank takeover scandal. Following his resignation a new law was rushed through parliament that allows the president to nominate a central bank chief on the recommendation of the government. Draghi appears well qualified for the job. The 58-year old is a former director-general of the Treasury who has a wealth of international economic experience.

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