FRANKFURT (MNI) – The European Parliament on Wednesday voted to
endorse Bank of Italy Governor Mario Draghi to succeed Jean-Claude
Trichet when the latter steps down as head of the European Central Bank
later this year.
In a hearing where the Italian central banker was grilled for
almost two and a half hours on Tuesday, Draghi stressed that his history
at Goldman Sachs did not bias him towards private banks.
He pointed to his track record at the Bank of Italy and the
Financial Stability Board (FSB) as evidence of the opposite.
“I think that my six years with the Bank of Italy would show” that
I have no conflict of interest and am not too close to banks, Draghi
told the Parliament.
He reminded that the FSB, which he chairs, had pushed for a tough
reform on global supervision. In fact, “in 2008, the only response to
the crisis was given by the FSB,” he noted.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
[TOPICS: M$$EC$,M$X$$$,M$$CR$,MT$$$$]
