Home News Merkel wants to put behind Draghi as ECB President – WSJ

Merkel wants to put behind Draghi as ECB President – WSJ


BERLIN (Dow Jones) – Chancellor Angela Merkel (CDU), according to informed sources, the candidature of Mario Draghi as the next President of the European Central Bank (ECB) support. Merkel had come to the conclusion that there was no viable alternative to the Italian central bank governor, said people familiar with the processes.

Because the Chancellor, however, negative reactions to a possible ECB President of Italy fear in the German media and in parliament, Merkel has not yet made public its position. A public opinion but could be soon.
On Tuesday, French President Nicolas Sarkozy had openly advocated the nomination Draghi as ECB president, also Spain and Portugal now have signaled approval. Jean-Claude Trichet will retire in October after eight years in office as President of the ECB.
The federal government has up to now decided not public, but assumes that the occupation of the post is with German approval. "Without the German agreement no one will get to the top of the ECB," government spokesman Steffen Seibert had said this week at a press conference in Berlin. These details shall be determined "by agreement between Germany and France."
Bundesbank President Axel Weber had long been considered the leading candidate for the ECB’s top job. In March, Weber, however, dispense with an application and this due to lack of support in politics.