Bloomberg/Catarina Saraiva, Jana Randow and Paul Gordon/2-28-2019
“The appointment will be part of government horse-trading over several top EU positions, focusing on nationality and gender as well as expertise. Draghi’s tenure was defined by unprecedented stimulus and his pledge to do ‘whatever it takes’ to preserve the euro. The Italian’s successor will inherit a plan to gradually unwind those measures and rebuild the buffers before the next downturn.”
USAGOLD note: We’ll see how that works out. Nothing in EU politics is without complications. The next ECB president’s tenure might be among the most challenging in its short history with Brexit and the situation in Italy leading the list. Finland’s Erkki Liikanen is the current favorite to take over for Mario Draghi. He is generally considered to be a monetary policy hawk.
Repost from 3-1-2019
