Italy Government Names New Bank of Italy Chief

ROME (MNI) – The Italian government Thursday named deputy Bank of
Italy director general Ignazio Visco as the new head of the central
bank, succeeding outgoing, and soon-to-be European Central Bank
President, Mario Draghi.

The government’s announcement ends weeks of squabbling and
uncertainty over who would take over as Bank of Italy chief.

On the shortlist for the post, Prime Minister Silvio Berlusconi was
also considering ECB executive board member Lorenzo Bini Smaghi, Bank of
Italy Director General Fabrizio Saccomanni — favoured by the Bank of
Italy — and Vittorio Grilli, the director general of the Italian
Treasury, who was supported by Finance minister Giulio Tremonti and the
Northern League.

A former chief economist of the OECD, Visco has served as deputy
director general of the Bank of Italy since 9 January 2007. Prior to
that, he was appointed Central Manager for External Activities in March
2004, and then worked as Central Manager for Economic Research from
March to December 2006.

** Market News International Rome **

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