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Draghi appointed next president of European central bank

Italian central bank governor Mario Draghi has been appointed the next president of the European central bank.

In a plenary session at the European parliament in Brussels yesterday, MEPs voted for Draghi to take over from the European central bank’s current president Jean-Claude Trichet.

Draghi will hold the position from November 1 until October 31, 2019.

The European Council backed his candidacy in May. Last month he won the backing of the European Parliament Economic and monetary affairs committee.

Conservative MEP and economic and monetary affairs committee member Vicky Ford said she was impressed with Draghi when he visited the committee.

She says: “I enjoyed his visit. He was very open and very firm. He is clearly highly intelligent and is a chap that has respect across the world and that is very important at this time.”

Draghi has been governor of the Italian central bank since 2005 and has also been chairman of the Financial Stability Board and a member of the board of directors for the bank of international settlements, which sets the Basel accords. He was director-general of the Italian treasury between 1991 and 2001.

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