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Merkel still to decide on who should be ECB chief
Published in The Saudi Gazette on 11 - 05 - 2011

BERLIN: German Chancellor Angela Merkel said Tuesday that she still hasn't decided who to support as the next European Central Bank leader, even after fellow eurozone heavyweight France threw its weight behind Italy's Mario Draghi.
Incumbent Jean-Claude Trichet's term expires in October, and support from Germany —which has the 17-nation eurozone's biggest economy — will be crucial in the choice of a successor to the Frenchman. A formal choice should be made by a European Union summit next month.
At a meeting last month with Italy's premier, French President Nicolas Sarkozy said his country supports Draghi, the governor of the Bank of Italy.
But Germany — whose former central bank chief, Axel Weber, was a favorite for the ECB job until he resigned abruptly earlier this year — has refused to be drawn.


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