Italy's Draghi gains momentum in a bid to head ECB

04/20/2011 | Wall Street Journal, The

Mario Draghi, governor of the Bank of Italy, has gained support from some German officials to become the next president of the European Central Bank. Germany has a big say in who will succeed Jean-Claude Trichet, whose term ends this autumn. "Draghi is building up a head of steam, but the key is still [German Chancellor Angela] Merkel," said James Nixon, co-chief European economist at Societe Generale. "This isn't over yet. The worry is that Draghi is not the man to sell the euro project to the German people."

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