Super Mario
June 23, 2011
European lawmakers on Thursday endorsed Italian central bank governor Mario Draghi as the next president of the European Central Bank, hours before the start of a two-day European Union summit at which he was to receive final approval for the job.
The 63-year-old banker, who last year fought against the 110-billion-euro ($157 billion) emergency loan package for Greece, is expected to take over the ECB post from Jean-Claude Trichet on November 1.
Draghi and his supporters had to convince skeptics in the bloc that he was fit for the job, despite coming from a country now seen as one of the financial problem children of the EU.
Germany had hoped former Bundesbank President Axel Weber would take the job, and his nomination seemed likely after Portuguese banker Vitor Constancio was appointed ECB vice president. The EU has an unofficial rule of balancing northern and southern Europeans in high leadership positions.
But Weber's unexpected resignation from the Bundesbank earlier this year left the race wide open.
Reports had surfaced that France was threatening to block Draghi's appointment until it was guaranteed a French seat on the ECB executive board, but EU diplomats said on the eve of the summit in Brussels that Draghi's nomination would proceed without opposition.
Author: Andrew Bowen (AFP, Reuters, dpa)
Editor: Martin Kuebler