Draghi Wins Backing – But Faces Challenges – Over Top Job At Central Bank

The European Parliament’s main progressive group, the Socialists and Democrats, will tomorrow back Italian banker Mario Draghi to be the next head of the European Central Bank, during a vote in the all-party economic affairs committee in Brussels.

Said S&D spokesman on economic affairs, Udo Bullmann: “Mr Draghi gave a professional performance in front of the committee today. We expect the future President of the European Central Bank to be independent from financial market actors and also from national governments. He showed that he has the skills and qualifications for the job.

“We expect him to show political vision, demonstrate that he is open to new options and have a capacity to find innovative solutions, especially at this time of crisis in the euro-zone. The future relationship between the European Parliament and European central bank needs more than the exchange of technical expertise. It has to be about how to regain economic confidence and leadership to get out of the current crisis together. “