The prudent man of the ECB
When Giorgia Meloni was drawing up her team of ministers, she urgently needed a series of names to convince Brussels that her government proposal was not going to arouse as much distrust as some feared in the European Commission. First on his list was Fabio Panetta, a member of the executive committee of the European Central Bank (ECB) and former CEO of the Bank of Italy, whom he courted as super economy minister of the future right-wing Italian government to take advantage of international reputation. blameless of him. But Panetta did not allow himself to be won over, first to keep his record free of partisan connotations and, second, to leave open the prospect of becoming Ignazio Visco's successor as governor of Italy's central bank once his term expired at the end of October. . The wishes of Panetta, who managed to maintain good relations with Meloni despite rejecting his job offer, have been fulfilled.The Italian government recently named this supposedly prudent banker as the future governor who will take up residence in the magnificent palace on Via Nazionale, where his portrait will soon hang in one of Job Function Email Database several frescoed meeting rooms when he takes over from Visco, whose term will end in October. 31, twelve years after Mario Draghi resigned to become president of the ECB. Early elections end speculation in a country revolving around a high-profile position in the euro zone's third-largest economy, as two former Bank of Italy governors, Luigi Einaudi and Carlo Azeglio Ciampi, were fired . becoming presidents of the Republic, a position in which in the future - who knows - Draghi, Meloni's predecessor in the Chigi Palace, could also land. Meloni proposes Fabio Panetta, from the ECB executive committee, as governor of the Bank of Italy Panetta, 63 years old and Draghi's most trusted, has all the necessary experience behind him.
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Born in Rome in 1959, he studied Economics and Commerce at the Luiss Guido Carli University and obtained a Master of Science in Monetary Economics from the London School of Economics and then a PhD in Economics and Finance from the London Business School.His first contact with the Bank of Italy was in 1985 and in 1999 he became head of its monetary and financial division. He rose through the ranks, helped by a calm and jovial character, until in 2011 he was appointed central director for the coordination of the Bank of Italy in the Eurosystem. The following year he was appointed deputy director general by Visco himself, where he represented the institution in various European and international organizations, including the OECD and the IMF. In 2019 he was promoted to director general, a position he held for just over six months before being elected, in January 2020, to his last position at the ECB, where he was responsible for the digital euro. . Gusi Over the years he has earned a reputation as a prudent banker, similar to Visco's thinking.
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