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HomeEconomyECB's Panetta seen ignoring calls to be Italy's finance minister: sources

ECB's Panetta seen ignoring calls to be Italy's finance minister: sources

Giuseppe Fonte and Giselda Vagnoni

ROME (Reuters) – European Central Bank board member Fabio Panetta is boycotting Georgia Meloni, Italy’s next prime minister candidate (Giorgia Meloni). job of economy minister should the rightist bloc win election on Sunday, two political sources told Reuters.

Meloni, the leader of the Brothers of Italy party, wants Panetta to replace Daniele Franco at the helm of the The source said the Italian Ministry of Finance, but Panetta has made it clear he is not interested in the role.

They added that the governor of the central bank preferred the position of governor of the Bank of Italy and asked not to

Panetta, 63, a veteran who has worked at the Bank of Italy for more than three decades, has served on the Executive Board of the European Central Bank (ECB) since its inception 2020.

Ignazio Visco was tasked and has been leading the Bank of Italy since 2011 , which will end in October next year.

A third independent source close to the matter confirmed that Panetta is the leading candidate to replace Vesco.

The government plays a key role in appointing the governor of the Bank of Italy, a process that is complicated and requires consultation with the central bank’s main internal body, the “senior committee”.

The ECB said: “Mr. Panetta declined to comment.”

Meloni’s office could not be reached for comment.

The new economy minister will have to help Italy deal with a worsening economic outlook due to an energy crisis exacerbated by the war in Ukraine and rising prices for many other commodities.

The European Central Bank raised key interest rates in an unprecedented manner 75 by basis points this month and pledged to raise rates further, prioritizing fighting inflation and keeping Italy in check Threats and complicating efforts to reduce public debt.

Meloni said in a televised interview on Tuesday that this is not the time to talk about ministerial work.

She has declined to answer a possible role in a future conservative government, Panetta said in an interview with Reuters in August 25, but added at the time that Panetta was “a man of the highest status.”

Coalition leader Matteo Salvini, an ally of Meloni in the right-wing bloc, opposes giving technocrats, including the Ministry of Economy, keys to any new government Possibility of position.

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