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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