Draghi a good choice as head of ECB

The EU heads of state and government on Friday nominated Mario Draghi, governor of the Bank of Italy, as the new president of the European Central Bank. The business daily Les Echos welcomes the choice: "The white smoke has not yet risen skyward, but it's as if it had: the European Central Bank has a new boss. The Italian Mario Draghi will follow in the footsteps of Jean-Claude Trichet on November 1, as the heads of state and government of the European Union resolved on Friday. This decision is good news. First of all it shows that Europe's leaders are still able to take major steps before they are imposed as emergency measures. Even if the appointment was accompanied by a tardy if justified French counter-measure - both brutal and inelegant - to secure a top seat at the ECB, one of which is traditionally reserved for a Frenchman. This nomination is also a good news because little can be said against the man."

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