Mario Draghi is on track to take over as president of the European Central Bank after getting the nod from euro zone finance ministers.
Before succeeding Jean-Claude Trichet when the Frenchman’s term expires at the end of October, Draghi has to be approved by the European Parliament and then a meeting of the European Council on 24 June.
The 63-year-old Rome native has worked at the World Bank, held a senior position at Goldman Sachs International in London and currently, as well as heading Italy’s central bank, Draghi chairs the Financial Stability Board – the international organisation set up to identify and respond to risks in the global financial system.
Draghi’s first big task will be to tackle inflation fears by reversing the measures taken under Trichet to stimulate the region’s economy and fight the debt crisis.
Asked if Draghi might be interested in the top job at the International Monetary Fund instead the Bank of Italy said no.