What Happens To Mario Draghi After He Leaves The ECB?
Bloomberg Businessweek|September 16, 2019
A book looks at Draghi’s tenure at the ECB— and what the future holds for him back home after he leaves Frankfurt
What Happens To Mario Draghi After He Leaves The ECB?

The months leading up to the end of Mario Draghi’s eight-year leadership of the European Central Bank eerily resembled its start: Italy on the brink of economic chaos, investors questioning its capacity to support a huge debt mountain, and the risk of crashing out of the single currency becoming something more than just a remote possibility. Even the relative stability of a new government that in September replaced a caustic coalition can’t overcome the impression of an unstable Italy. For the ECB president, his home country has been a constant headache. The fact that—with the exception of Greece—no other country has done as badly in the single currency as Italy is just part of the reason.

Gross domestic product per person has fallen more than 10% since 2011, unemployment is stuck near 10%. The country’s cherished position as Europe’s second-largest manufacturing powerhouse is threatened by France. Meanwhile, the banking system, which took pride in weathering the global financial crisis without needing a bailout, emerged severely weakened from years of low or nonexistent growth, is still reeling from years of recession, and hasn’t been able to reform.

Throughout all this, Italy’s political and social cohesion has visibly deteriorated. To gauge the degree of instability, one simply needs to look at the list of prime ministers—Silvio Berlusconi, Mario Monti, Enrico Letta, Matteo Renzi, Paolo Gentiloni, Giuseppe Conte—and finance ministers— Giulio Tremonti, Monti, Vittorio Grilli, Fabrizio Saccomanni, Pier Carlo Padoan, Giovanni Tria, and Roberto Gualtieri—who have represented the country in Brussels and on the international stage while Draghi held his post in Frankfurt. He’s been in office continuously longer than any of those Italian officials, a double-edged distinction for a public figure in the country. Who knows what might be asked of him when he returns?

هذه القصة مأخوذة من طبعة September 16, 2019 من Bloomberg Businessweek.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة September 16, 2019 من Bloomberg Businessweek.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BLOOMBERG BUSINESSWEEK مشاهدة الكل
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 mins  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 mins  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 mins  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 mins  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ mins  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ mins  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 mins  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 mins  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 mins  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 mins  |
March 20 - 27, 2023