Council of the EU recommends Mario Draghi for ECB presidency


The Council of the European Union on Tuesday recommended the nomination of Mario Draghi as the next president of the European Central Bank (ECB).

Governor of the Bank of Italy, Draghi has been considered the favourite for the role and is now one step closer to succeeding Jean-Claude Trichet, the current chief, whose term ends on October 31 this year.

"The Council's recommendation will be submitted to the European Council, which will consult the European Parliament and the ECB, with a view to

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