Mario Draghi leaves the European Central Bank at the end of the month, and that ...
FRANKFURT - Mario Draghi leaves the European Central Bank at the end of the month, and that may give opponents of his ultra-easy monetary policy a chance to shift the tone of the debate at the top of the institution.
Herself a Frenchwoman, Lagarde will work with a largely new Executive Board, the six-person team who prepares Governing Council meetings and puts monetary policy into practice. For most of his mandate, Draghi could count on his deputy, Vitor Constancio, and chief economist, Peter Praet, to support him internally and explain his dovish message to investors. Most of the Governing Council took its cue from an authoritative trio of economists at the top.
German academic Isabel Schnabel, Bundesbank vice-president Claudia Buch and former ECB economist Marcel Fratzscher are among those who might take Lautenschlaeger’s seat. [L5N26I1Q5] The only candidate to replace Coeure on Jan. 1 is Italy’s Fabio Panetta, who rarely voiced an opinion on monetary policy and last represented his country on the ECB’s banking supervision arm.
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