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Axel Weber and Mario Draghi in pole positions as fight for ECB succession starts - Telegraph

Axel Weber and Mario Draghi in pole positions as fight for ECB succession starts The campaign wasn't supposed to start until next year. But the race for the job of next president of the European Central Bank has already begun in earnest, complete with PR campaigns, political manoeuvring and sometimes dubious innuendoes.
By Pierre Briancon
Published: 6:00AM GMT 03 Feb 2010
The two candidates to replace Jean-Claude Trichet are Axel Weber, the Bundesbank president, and Mario Draghi, the Bank of Italia governor. Although Trichet's mandate expires in October, 2011, Europe's leaders will later this month choose a new vice-president for the ECB, to replace Lucas Papademos. That decision over the vice-president will largely determine who becomes president.
The ECB is a finely tuned machine where geographical influences have to be delicately balanced. If Portugal's Vitor Constancio becomes the ECB's number two, Weber will be in pole position for the top job. But should Luxembourg's Yves Mersch make it, then Draghi probably has a lock on the nomination.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Carrie (migeru at eurotrib dot com) on Sat May 15th, 2010 at 11:01:45 AM EST
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