Italy's prime minister, Silvio Berlusconi, on Thursday named Ignazio Visco, deputy director-general of the Bank of Italy and number three at the central bank, as his choice for governor, in a surprise nomination.
Early on Thursday rumours had circulated that Berlusconi would pick Lorenzo Bini Smaghi, a member of the European Central Bank's (ECB) executive board, ahead of Vittorio Grilli, the head of Italy's Treasury and Fabrizio Saccomanni, the director-general of the Bank of Italy, and Visco's
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