Monday, January 16, 2006

Italy and the New Central Bank

The new president of the central bank, Mario Draghi, starts his job today.
He will be responsible for the future of the central bank in Italy.
You find an interesting overview here

An excerpt:

'Above all, Mr Draghi is seen as the authoritative, well-respected figure who will have to restore an atmosphere of serenity after the recent stormy incidents that have left an unpleasant aftertaste. “Ethics and decency infringed again” is the beginning of a letter sent a few days ago to the director general and acting governor, Vincenzo Desario, by Angelo Marasi. In it, the FABI bank trade union secretary asked for clarification as to why Mr Fazio had been given an office, with secretary and bank car, on the first floor of Villa Huffer, where the notorious painting of Saint Sebastian that hung behind his desk in Palazzo Koch will be placed, along with two safes the former governor is believed to have requested. The decision has created ill feeling among workers in the offices opposite Palazzo Koch, who are reported to have been invited not to use the stairs. So as not to disturb Mr Fazio.'

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