–Barroso: Draghi Will Prove ‘Exceptionally Competent’
–Van Rompuy Says Bini Smaghi Will Not Serve Out His ECB Term
–Decision May Pave Way For Possible Franco-Italian Accord On ECB Board
–Source: Sarkozy Piled Pressure On For Smaghi To Pledge To Step Down
BRUSSELS (MNI) – EU President Herman Van Rompuy welcomed Friday the
confirmation that Banca d’Italia Governor Mario Draghi will be the next
president of the European Central Bank.
Van Rompuy told a press conference here that Draghi would provide
“strong and independent” leadership at the ECB, saying such qualities
would be “indispensable” in the current crisis situation.
The comments followed the decision by EU leaders to confirm
Draghi’s appointment, despite a squabble which is bubbling away between
France and Italy and also within the Italian political milieu over what
to do with Italy’s current ECB Board member Lorenzo Bini Smaghi.
A solution to this impasse now seems to be emerging, according to
Van Rompuy, who told reporters that Bini Smaghi had told him this
morning that it was not his intention to serve out his eight-year term
on the ECB Board, which expires in May 2013.
Van Rompuy said that Bini Smaghi would choose his own departure
date and that this decision fully respected the independence of the ECB.
One EU source told MNI said French President Nicolas Sarkozy had
piled the pressure on for Bini Smaghi to provide “assurances” that he
would leave if Draghi took the helm of the ECB – hence the call made by
Van Rompuy this morning.
Bini Smaghi’s departure would allow France to take up a seat on
the executive board.
EU Commission President Joaquin Barroso also welcomed the
appointment of Draghi, saying he was “exceptionally competent” and that
he would provide the leadership required at the ECB.
–London Bureau; Tel: 00442078627492; email: dthomas@marketnews.com
[TOPICS: M$X$$$,M$EC$$,MGX$$$]
