Who is draghi

Giancarlo Giorgetti, a senior figure in the populist far-right League party, will be industry minister. Andrea Orlando, from the centre-left Democratic Party, will be labour minister. The government faces a confidence vote next week - a formality given its cross-party backing. An economist with experience at the highest levels of the European Union and as governor of the Bank of Italy, Mr Draghi is being seen as a safe pair of hands.

The previous prime minister, Giuseppe Conte, resigned in January after his party lost support for its coalition government over plans for spending EU recovery money. Here Italy goes again, with its 67th government since World War Two. Mario Draghi, credited with saving the euro as president of the European Central Bank at the height of the eurozone crisis, has become Italy's new prime minister with a cabinet comprising a broad base of political parties and technocrats.

Nicknamed "Super Mario", Mr Draghi has significant support… for now. But in Italy's notoriously divided and unstable political landscape, it's never clear how long that will last. Italy's 'Super Mario' answers call of duty.

Image source, EPA. Mario Draghi's main priority will be how to rebuild the economy after the pandemic. Draghi spent the early part of his career in academia and banking. Between and , Draghi taught economics at the University of Florence.

He also served as an executive director at the World Bank in Washington, D. During the ten-year period between and , he was general director of the Italian Treasury. As part of his work, he headed the committee that revised and renovated Italy's corporate and financial legislation.

His experience as a board member for a number of Italian banks and corporations , including Banca Nazionale del Lavoro and Istituto per la Ricostruzione Industriale, was crucial at this time. Draghi moved into investment banking in That's when he joined Goldman Sachs ' international arm as vice-chair and managing director. Draghi was also a member of the company's management committee. In this capacity, he developed the company's strategy in the European market and worked closely with both large European corporations and European governments.

He served in these roles until he left the bank in Following his stint at Goldman Sachs, Draghi returned to government banking. He was appointed governor of Banca d'Italia or the Bank of Italy, the country's central bank in late A few months later, he was elected to the position of chair of the Financial Stability Forum. Renamed the Financial Stability Board in , the organization was responsible for bringing together central banks and governments to investigate and promote global financial stability.

Draghi spent six years leading the bank's monetary and fiscal policy. He also represented the country at the governing council of the European Central Bank ECB , the eurozone's central banking body.

Draghi used his time to promote growth in the EU through negative interest rates and quantitative easing QE. He also worked closely with the ECB's then-president Jean-Claude Trichet to develop economic policy recommendations for the Italian government.

Draghi served as governor of the Bank of Italy until late Because of their close collaboration, Mario Draghi was frequently mentioned as Trichet's successor when his term ended as head of the ECB in late Draghi also served as a member of the bank's executive board, the governing council, and the general council. Draghi also chaired the European Systemic Risk Board.

He had a similar, non-renewable eight-year term and was president of the ECB through Oct. As president of the ECB, Draghi played a major role in a number of significant economic developments. He was also closely involved with Greek debt restructuring following the country's financial fallout. A portion of his activity as head of the ECB was to advocate for the continuation of the eurozone. In , he suggested EU countries had "not yet reached the stage of a genuine [ monetary union ]," adding that this would potentially jeopardize the "long-term success of monetary union when faced with an important shock.

Mario Draghi's work to help promote and save the euro earned him the nickname Super Mario after the popular Nintendo video game character. Draghi was an outspoken proponent of improved economic performance for eurozone countries. But he came under fire in his position with the ECB, largely because of his ties with Goldman Sachs and because of his membership in the so-called Group of Thirty , a private group of financial lobbyists.

His term as chief of the ECB ended in He was replaced by Christine Lagarde. Draghi retired to private life after leaving the ECB but came back into the public sphere after Italy's president, Sergio Mattarella, requested that he form an administration. Mattarella's appointment came after the collapse of the government due to its handling of the COVID pandemic.

Draghi won a confidence vote in Italy's lower house of parliament, giving his government the authority it needed to take power. Draghi was sworn in on Feb. Mario Draghi is an economist, academic, and banker who rose to become governor of the Bank of Italy, president of the European Central Bank, and in , Prime Minister of Italy. Group of Thirty. Goldman Sachs. Bank of Italy. Financial Stability Board. Accessed July 18, Council of the European Union. European Parliament. European Central Bank.

The Guardian. Corporate Europe Observatory. Federal Reserve. Actively scan device characteristics for identification.