Bank of Italy Deputy Governor Piero Cipollone will be his country’s nominee for European Central Bank instead of his former colleague Daniele Franco, according to people familiar with the matter.
With the deadline for Executive Board applications set for Wednesday, no other candidate from another euro-area nation is vying for the job, said the people, who declined to be identified because the matter is confidential.
The Italian candidate should now proceed unopposed to the next stage of nomination. Italian central bankers have typically taken a more dovish stance. The lack of a rival for the ECB job points to a tacit acknowledgment by European Union counterparts that Italy can continue to reserve one of the Executive Board seats whose holders it has named since the euro’s creation in 1999. There’s no formal guarantee of that arrangement.
France Dernières Nouvelles, France Actualités
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