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EU leaders appoint Draghi as next ECB president

EU leaders appoint Draghi as next ECB president

24 June 2011 14:54 (UTC +04:00)

Baku - APA-Economics. European Union leaders appointed Italy’s Mario Draghi as the next president of the European Central Bank on Friday -- a move that gives investors much-needed certainty over who will lead the institution in its pivotal role in the fight against the crippling debt crisis.

The timing of Draghi’s appointment had come under doubt as fellow Italian executive board member Lorenzo Bini Smaghi had until Friday refused to leave his post.

With Bini Smaghi staying on the executive board, France would not have a representative on the six-person board once current ECB chief Jean-Claude Trichet departs on Oct. 31. The French had previously implied they would only support Draghi if a French man or woman takes Bini Smaghi’s spot.

Finance

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

TuranBank conducts beach cleanup campaign on the Caspian coast in cooperation with the Ministry of Ecology and Natural Resources

ADB: Expanding electric transport could bring Azerbaijan $18 mln annually

ADB: Expanding electric transport could bring Azerbaijan $18 mln annually

BSTDB Vice President Ziya Aliyev

BSTDB has financed over €9 billion in projects since its establishment – Vice President

BSTDB President Serhat Köksal

BSTDB President: Our more than 20-year partnership with Azerbaijan is built on mutual trust

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