Who Next at the ECB Helm?
During the crisis, the ECB has had an outstanding president in the person of Jean-Claude Trichet. But his non-renewable term will end in October 2011, and the euro’s member countries are already bargaining over his successor.
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TILBURG, THE NETHERLANDS – Two years ago, the leaders of the world’s central banks were considered heroes for their efforts in preventing financial crisis from turning into Great Depression II. Today, however, central banks are being sharply criticized, and their independence is coming under severe pressure in many countries, particularly in the eurozone, as Mario Draghi, the head of the Bank of Italy, recently pointed out.