Draghi faces large pay cut


Mario Draghi, the governor of the Bank of Italy, could see his pay slip by more than half, should he move to Frankfurt to assume the presidency of the European Central Bank (ECB).

The Bank of Italy's Annual Report published on Tuesday revealed the pay of its senior staff for the first time, including Draghi, who took home €757,714 ($1.09 million) in 2010. This meant Draghi would receive a 51.4% pay cut if he were to earn the same salary as Jean-Claude Trichet, the outgoing president of the ECB

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