6. The Italian Candidate: The Appointment of Mario Draghi to the Presidency of the ECB

  After prolonged negotiations, on 24 June 2011, the governor of the Bank of Italy, Mario Draghi, was appointed president of the European Central Bank (ECB) as successor to Jean-Claude Trichet Draghi's appointment was consistent with a long-standing practice of Italian politicians and ofcials s...

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Bibliographic Details
Published in:Italian politics 2012-07, Vol.27 (1), p.155
Main Authors: Dyson, Kenneth, Quaglia, Lucia
Format: Article
Language:English
Subjects:
Central banks
Draghi, Mario
Political appointments
Presidents
Online Access:Get full text
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Summary:  After prolonged negotiations, on 24 June 2011, the governor of the Bank of Italy, Mario Draghi, was appointed president of the European Central Bank (ECB) as successor to Jean-Claude Trichet Draghi's appointment was consistent with a long-standing practice of Italian politicians and ofcials seeking to engage with the process of European integration by ensuring that they were sitting at the European top table. In the context of the euro area, sitting at the top table for Italy was initially about gaining euro entry as a founding member state in 1999 and, subsequently, about having strong Italian representation in the governing structures of the euro area, particularly the ECB.1 Once the sovereign debt crisis became contagious in 20102011, it meant ensuring that nancial markets drew a clear distinction between Italy and periphery member states such as Greece and Portugal that suffered from sovereign debt distress.
ISSN:1086-4946
2326-7259
DOI:10.3167/ip.2012.270109