Draghi

Consider the fate of a recent proposal by the respected governor of the Bank of Italy, Mario Draghi.

Mario Draghi, the president of the ECB, has officially ruled out a vast expansion of its bond-buying programme.

Mr Draghi is right to say that unless agreement can be reached on a clear set of rules, confidence will not return.

To his credit, Mario Draghi, the newish governor of the Bank of Italy, called for banking consolidation earlier this summer.

That tension between the two men has been most evident over the nomination of a successor to Mario Draghi as president of the Bank of Italy.

Mario Draghi, the governor of the Bank of Italy, highlighted structural work problems in a recent speech.

The Financial Stability Forum (FSF), ably chaired by Mario Draghi of the Bank of Italy, has started to tackle these issues.

Draghi's just arriving, headline inflation is still high, there is no evidence yet of a significant downturn in the hard data.

The Financial Stability Forum, ably chaired by Mario Draghi of the Bank of Italy, has started to fill this gap.

"All in all, the costs seem to outweigh the benefits, " said Mario Draghi, incoming ECB president.

Creating a credible financial firewall has been a key demand by Mario Draghi, president of the European Central Bank.

Mr Draghi's standing as a trusted technocrat helped restore the bank's reputation.

Mr Draghi's comments, however, for the first time indicate that the ECB is willing to intervene more aggressively than it has done so far.

Mario Draghi, the ECB's new president, has hinted that were a fiscal pact to be agreed, the ECB might buy bonds on a larger scale.

Precisely because he is Italian, Mr Draghi may have to be even stricter in insisting on a narrow interpretation of the ECB's mandate.

Draghi expressed strong resistance to the ECB being used as a lender of last resort, insisting that it was not its remit.

Mr. Draghi, who becomes president of the European Central Bank on Nov. 1, is backing his deputy at the Bank of Italy, Fabrizio Saccomanni.

When asked about a possible Greek exit from the common currency bloc, Draghi said such an option was not in the treaty.

As governor of the Bank of Italy, Mr Draghi is also a member of the European Central Bank's 22-strong rate-setting council.

The markets may be panicking but Mr Draghi is said to be calm in a crisis.

The bank's new president, Mario Draghi, may be willing to play this role, if Germany stops standing in the way.

It made for a very uncomfortable first day at work for Mario Draghi, the new head of the European Central Bank.

Mr Draghi, the ECB president, called for a "fiscal compact" between eurozone governments to restore investor confidence in the region.

The main impediment will be Mr Draghi's own desire to establish his conservative credibility.

In his first press conference as ECB president, Mr Draghi proved that only the paranoid can put his hawkish credentials in doubt.

Will Mr Draghi dare use it against the wishes of his biggest shareholder, Germany?

Mr Draghi says the programme is not about providing cheap funding for governments but about ensuring the proper functioning of bond markets.

The U. S. Treasury chief began his trip by meeting European Central Bank President Mario Draghi.

He hands over to Mario Draghi, currently head of Italy's central bank, at the end of the month.

It is sure to be politically hard, however, particularly for Mario Draghi, the incoming Italian ECB president.

Mr. Draghi's response to any deal among EU leaders by Friday will be closely watched.

If that is what Mario Draghi, the bank's (Italian) new president, decides to do, Mrs Merkel may not stand in the way.

Mr Draghi is not entirely of this world: he served in the finance ministry, and also spent time in the private sector (at Goldman Sachs).

Angela Merkel, the German chancellor, is also expected to approve Mr Draghi's candidacy, according to well-placed officials in Berlin.

This month, Mr. Draghi stared down bearish international traders who were convinced that Europe's common currency project would collapse.

In its substance Mr Draghi's call for a new "fiscal compact" said nothing much new.

That is a quality that Mario Draghi, governor of the Bank of Italy, certainly has.

Mario Draghi, who takes over as head of the ECB on November 1, described the purchasing programme as "temporary" in a speech in Paris.

Mr Draghi must not replace Mr Trichet's "constructive ambiguity" with destructive clarity.

Mr Draghi led Italy's privatisation programme and fostered a market for longer-dated government bonds, which helped reduce borrowing costs.

MARIO DRAGHI: "A credible signal is needed to give ultimate assurance over the short term. "

As chairman of the Financial Stability Board, Mr Draghi has been leading international efforts to remedy the fills of global banking.

Adding to the pressure on Mr Draghi, French president Nicolas Sarkozy said on Thursday that the ECB had a "decisive role to play" .

Senior officials in Berlin have described Mr Draghi recently as a "good candidate" .

At his first policy setting meeting as ECB President, Draghi noted that Europe is heading towards a 'mild recession'.

The issue is whether they can impress those with the money: Mrs Merkel and Mario Draghi, president of the European Central Bank?

But will it actually be saved? Despite Mr. Draghi's show of determination, that is, as I said, very much in doubt.

Papademos was expected to meet European Central Bank chief Mario Draghi on Tuesday evening in Frankfurt.

Speaking after the ECB's council left its main interest rate unchanged at 1 per cent, Mr Draghi played down the divisions.

As Mr. Draghi said in an interview in December 2011, 'The euro could only be saved by printing it. '

Mr Draghi must change course. To do so will not brand Mr Trichet a failure.

"We won't achieve that by destroying the credibility of the ECB, " Mr Draghi said.

Mr Draghi should abandon such demands and promise to facilitate an orderly default.

'Other elements might follow, but the sequencing matters, ' Mr. Draghi said.

Moreover, Mr Draghi's experience in Italy makes him wary of giving politicians a soft option.

European Central Bank chief Mario Draghi praised the agreement.

Finally, Mr Draghi should press his colleagues to cut interest rates.

The decision was the first under the new ECB chief Mario Draghi.

So Mr Draghi will probably be wary of swiftly stepping in to cap Italy's interest rates.

But he has taken some unhelpfully rigid positions of late, which Mr Draghi must quickly shift.

But as Mr Draghi added, the financial sector is not safe yet.

On November 3rd, as The Economist went to press, Mr Draghi was presiding over his first policy meeting.

Fortunately, Mario Draghi, the ECB's incoming president, made it clear this week that he realises that is his job.

But Mr. Draghi isn't expected to change his stance just on ECB bond-buying, the policy that economists say really matters.

Not all of Mr Draghi's background works in his favour.

Some in Italy murmur that Mr Draghi's FSB job is a distraction.

And Axel Weber and Mario Draghi could each have a central bank to run.

Whether Mr Draghi does so may determine the euro's fate.

Mr Draghi is used to being called on in a pinch.

Everything that I have written above is already in Mario Draghi's mind.

The trouble is that, while Messrs Monti, Papademos and Draghi are very able men, they are not miracle-workers.

Has Mario Draghi done what it takes to save the euro?

Mr Draghi also announced another cut in ECB interest rates, from 1. 25 per cent to 1 per cent.

Taking over the European Central Bank puts Mario Draghi in a position as perilous as Europe's

Draghi warns of new year contagion Draghi warns of new year contagion